Delhivery Reports Rs 10 Cr Q2 Profit, Revenue Climbs 13% YoY
Logistics major posts 13 per cent YoY revenue growth despite sequential profit dip
Gurugram-based logistics and supply chain company Delhivery recorded a consolidated net profit of Rs 10 crore for the quarter ending 30 September 2024, reversing a loss of Rs 103 crore in the same period last year. However, profits dropped sharply by 81 per cent compared to Rs 54 crore in the first quarter of FY25.
The company’s revenue from operations increased by 13 per cent year-on-year (YoY) to Rs 2,190 crore from Rs 1,942 crore in Q2 FY24. On a sequential basis, revenue saw a marginal rise of 0.80 per cent from Rs 2,172 crore reported in Q1 FY25.
Delhivery's Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) stood at Rs 57 crore, a significant improvement from an EBITDA loss of Rs 16 crore in Q2 FY24.
Strong Segment-wise Performance
Express Parcel Services, the company’s flagship segment, reported a 7 per cent YoY revenue increase to Rs 1,298 crore, supported by a 3 per cent growth in shipments to 185 million during the quarter.
Part Truckload (PTL) Services witnessed a robust 27 per cent YoY revenue growth to Rs 474 crore, with volumes rising by 23 per cent to 427,000 metric tonnes. Sequentially, the segment grew 9 per cent in revenue and 7 per cent in volumes.
Supply Chain Services (SCS) recorded a 21 per cent YoY revenue rise to Rs 197 crore but saw a sequential dip of 24 per cent due to seasonal factors. Delhivery noted that its SCS pipeline remains strong, with multiple ongoing discussions across verticals like electricals, FMCG, e-commerce, and automotive.
Truckload Services achieved a 5 per cent YoY revenue growth to Rs 158 crore, while Cross-Border Services posted a remarkable 43 per cent YoY increase to Rs 59 crore, with sequential growth of 38 per cent.
The company highlighted that its express parcel and PTL businesses have been key drivers of growth. However, seasonal declines in the supply chain segment weighed on sequential performance.
Delhivery also emphasised its focus on leveraging robust demand in its cross-border services and expanding its capabilities in various industry verticals. With a steady YoY rise in revenue across most segments, the company continues to build on its operational efficiencies while navigating profit pressures.
