Delhivery reports 20.3% rise in revenue in FY24 Q3

E-commerce and logistics business Delhivery Limited saw its revenue from operations increase by 20.3% year-on-year during the third quarter of the 2024 financial year to total Rs 2,194 crore. The business also turned a profit of Rs 11.2 crore during the quarter.

“We are satisfied that the network quality remained robust even through the peak season,” said Delhivery Limited’s CEO and managing director Sahil Barua, ET Markets reported. “The highest ever quarterly EBITDA [earnings before interest, tax, depreciation, and amortisation] demonstrates the underlying strength and operating leverage in our business model. We have established adequate infrastructure and capacity for continued growth in FY 25.”
 
In the second quarter of the 2024 financial year, Delhivery Limited had reported a loss of Rs 103 crore. The business had also experienced a loss of Rs 196 crore in the third quarter of the 2023 financial year thus swinging into a profit in the recent December quarter shows better results than some analysts had predicted. 

Delhivery Limited reported 13% year-on-year revenue growth in the first nine months (three quarters) of the 2024 financial year to total Rs 6,066 crore, the Economic Times reported. The business’ losses decreased during the nine months to reach Rs 181 crore compared to Rs 849 crore in the first nine months of the 2023 fiscal.