Delhivery's Q3 revenue up 20% YoY to Rs. 2,194 crore
Delhivery has announced a net profit of Rs. 11.7 crore for the quarter ending in December 2023. The firm's consolidated net revenue rose by 13% QoQ to Rs. 2,194 crore, compared to Rs. 1,941 crore in the earlier quarter. This marks a YoY growth of 20.32% against Rs. 1,823 crore during the same period last year. Delhivery's net loss shrank to Rs. 103 crore in the July-September quarter of FY24, down from Rs. 195.6 crore in Q3 FY23.
The company has achieved its highest-ever quarterly EBITDA
The company's EBITDA saw a significant increase of Rs. 183 crore YoY, reaching Rs. 109 crore in Q3 FY24, as opposed to an EBITDA loss of Rs. 72 crore in Q3 FY23. Delhivery's express parcel shipments experienced strong rise of 18% YoY, with shipment volume climbing to 201 million in Q3 FY24, from 170 million in Q3 FY23. Sahil Barua, MD & Chief Executive Officer, stated, "The highest-ever quarterly EBITDA demonstrates underlying strength and operating leverage of our business model."
Delhivery has seen improvements in revenue and freight volumes
In Q3 FY24, Delhivery's revenue grew by 21% YoY to Rs. 1,448 crore, up from Rs. 1,200 crore in Q3 FY23. Part truckload freight volumes increased by 37% yearly to 3.54 lakh tons during the quarter under review. On Friday, Delhivery's stocks ended 0.75% higher at Rs. 472.9 per share on BSE, reaching a 52-week-high mark of Rs. 478.70 per share. Share value has risen by 22.99% Year to Date (YTD) and by 54.54% in the last year.
