Delhivery Q1: Net loss come down to ₹89.4 crore, revenue rises 10.5%
Revenue from services stood at Rs 1,930 cr
Delhivery Limited has reported Rs 1,930 Cr revenue from services in Q1 FY24. This is a growth of 11% YoY from Rs. 1,746 Cr in Q1 FY23 and up 4% sequentially from Rs. 1,860 Cr in Q4 FY23.
Losses reduced by 89% YoY to Rs. 25 Cr in Q1 FY24 compared to Rs. 217 Cr in Q1 FY23. Loss after Tax in the same period narrowed by 78% on YoY basis to Rs. 89 Cr in Q1 FY24 from ₹399 Cr in Q1 FY23 and by 44% on QoQ basis from Rs. 159 Cr in Q4 FY23.
“In Q1 FY24, we expanded capacity and network footprint in line with our growth expectations for H2 of FY24,” said Sahil Barua, MD and CEO of the company.
Revenue from Part Truckload services grew 34% YoY to Rs. 347 Cr in Q1 FY24 from Rs. 259 Cr in Q1 FY23 due to increased volumes. Part Truckload volumes grew 44% YoY to 343K tons in Q1 FY24 from 239K tons in Q1 FY23.
