Delhivery, a leading integrated supply chain services provider, disclosed a net loss of Rs 69 crore for the January-March quarter, marking a significant improvement from the Rs 159 crore loss reported in the same period last year.
Alongside this financial update, the company announced the resignation of Sandeep Barasia, its Executive Director and Chief Business Officer, who plans to explore opportunities outside the organisation. Barasia will continue in his role until 30 June 2024.
Despite the quarterly loss, Delhivery showcased a commendable performance for the full fiscal year (FY24), with a notable reduction in its loss after tax. The company reported a loss of Rs 249 crore for FY24, down from Rs 1,008 crore in the previous fiscal year. Sahil Barua, MD and Chief Executive Officer of Delhivery, attributed this improvement to the company's focus on delivering consistent service levels, enhancing profitability, and executing strategic capital investments.
"Fiscal year 2024 has been pivotal for us, marked by operational excellence, improved financial performance, and significant progress in our long-term investment initiatives," Barua commented in a statement.
Delhivery achieved a revenue of Rs 8,142 crore in FY24, representing a growth of 13 per cent compared to Rs 7,224 crore in FY23. However, Barua cautioned analysts against extrapolating the company's performance in Q4 to forecast the next six quarters, citing external factors beyond Delhivery's control.
Despite this, Delhivery's supply chain services and truckload service segments demonstrated robust growth in Q4 FY24, with revenue increasing by 25 per cent and 59 per cent, respectively.
As Delhivery navigates through dynamic market conditions and continues its growth trajectory, the company remains committed to delivering value to its stakeholders and driving innovation in the supply chain industry
