Delhivery Q4 Results: Loss widens to Rs 159 crore; revenue falls 10%
Logistics firm Delhivery on Friday reported that its consolidated net loss widened to Rs 159 crore during the March quarter. The company had reported a loss of Rs 120 crore in the March quarter of last year.
![]()
Revenue from operations fell 10% to Rs 1,860 crore for the quarter under review. It was Rs 2072 crore in the same quarter a year ago.
Adjusted EBITDA for the quatrter turned positive to Rs 6 crore in the fourth quarter, compared with a loss of Rs 67 crore in the third quarter.
Meanwhile, adjusted EBITDA margin improved to 0.3% and incremental gross margin in the core express parcel and PTL business continued to be above 50%.
The margin improvement was driven by a combination of factors including continued improvement in network capacity utilization, technology-driven cost optimization in fleet operations and improvement in revenue and margin quality across customer segments.
Delhivery said that it has opened up its internal and third-party demand to brokers and fleet owners through its Full Truckload Exchange (Orion) leading to pricing benefits in long-haul and short-haul trucking through competitive bidding and greater vehicle utilization for its partners.
Discover the stories of your interest
The company has reported growth in Express Parcel volumes by 10 million shipments QoQ to 180 million shipments in Q4 FY23. The segment’s revenue stood at Rs 1,177 crores in fourth quarter as against Rs 1,200 crore in the third quarter. Revenue from PTL services grew 19% QoQ to Rs 328 crore for the quarter under review due to increased volumes, gained through consistently high service quality.
Truckload and supply chain services businesses saw a QoQ revenue growth of 8% and 6% respectively while the cross-border services business saw a revenue decline of approximately Rs 9 crore.
“We were confident of continued improvement in the core Transportation business and overall profitability at the end of last quarter and are happy to report we have delivered both in this quarter as planned,” said Sahil Barua, MD and CEO, Delhivery.
“We have aggressive infrastructure and capability expansion plans in place and are confident of the strong start in April and H1 of May continuing through the year,” Barua said.
On Friday, Delhivery stock closed 1.79% lower at Rs 359.05 apiece on NSE.
Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines. For all the latest Technology News Click Here
Denial of responsibility! FineRadar is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.