BackDelhivery Q3 earnings: Loss widens to ₹196 crore on-year basis, revenue falls
The company widened its losses to ₹195.7 crore in the third quarter of the financial year 2023, compared to ₹126.5 crore during the same period last year
PremiumLogistics company Delhivery announced its third quarter earnings today. The company widened its consolidated loss for the quarter ended December 31, 2022 to ₹195.7 crore in the third quarter of the financial year 2023 compared to ₹126.5 crore during the same period last year.
The company's loss stood at ₹254 crore during the second quarter of FY23.
Total income also came in lower at ₹1,918 crore for the third quarter of financial year 2023 versus ₹2,019 crore a year ago. Meanwhile, revenue from from contracts with customers also declined about 8% to ₹1,823 crore, but improved 1% sequentially from ₹1,796 core in Q2 FY23.
The loss per equity comes to ₹2.65.
The company reported an adjusted cash profit of ₹34 crore in this quarter versus negative ₹32 crore in Q2 FY23.
“Leading indicators of our business - service precision, network speed and quality parameters all continue to show positive traction. We have had a good end to the year and this momentum has carried into 2023. We are confident of continued improvement in our transportation business, especially PTL, and overall profitability metrics," said Sahil Barua, Managing Director & Chief Executive Officer, Delhivery.
The company also informed in a regulatory filing, Kalpana Jaisingh Morparia has resigned from the office of Non-Executive Independent Director of the Company with effect from February 11, 2023.
The Delhivery share price closed at ₹315.75, down ₹2.00, or 0.63%, ahead of the earnings announcement. The stock hit an intraday high of ₹320 and an intraday low of ₹303 on February 10.
The company has figured in the list of 24 additions made to MSCI India Domestic Small Cap Index, the investment research firm said today in a release.
Delhivery is fully-integrated logistics services provider with its nationwide network covering over 18,500 pin codes.
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