Logistic firm Delhivery’s profit tanks over 80 pc in April-Sep period

Mumbai, Nov 15 (SocialNews.XYZ) Integrated supply chain services provider Delhivery saw its net profit nosedive more than 80 per cent (quarter-on-quarter) in the July-September period (Q2) of the current financial year.

The third-party logistics service company posted net profit of Rs 10.2 crore in Q2 FY25, against Rs 54.4 crore in the June quarter (Q1 FY25).

During this period, the company's income remained almost flat.

Delhivery's revenue in the second quarter of financial year 2024-25 was Rs 2,189.7 crore, compared to Rs 2,172.3 crore in the June quarter.

Compared to the June quarter of the current financial year, the company's EBITDA fell by 41 per cent to Rs 57.3 crore in September quarter of this fiscal, which was earlier Rs 97.1 crore.

The company's margin has declined by 190 basis points to 2.6 per cent in the July-September period, which was 4.5 per cent earlier.

The company’s express parcel segment revenue has increased by 7 per cent on YoY (year-on-year) basis to Rs 1,298 crore in the second quarter of the current financial year.

In the last quarter, the income of the part truckload segment grew 27 per cent year-on-year to Rs 474 crore. At the same time, the income of the supply-chain services segment in the September quarter was Rs 197 crore.

Income from the truckload services segment grew 5 per cent to Rs 158 crore in the September quarter compared to last year same quarter, while income from cross border services grew 43 per cent to Rs 59 crore.

On Thursday, Delhivery's stock closed 0.51 per cent lower at Rs 328.60 on the National Stock Exchange (NSE).

The company said the pipeline in this sector remains strong, and several active negotiations are going on in electricals, fast moving consumer goods (FMCG), e-commerce, auto and other industry sectors.

Source: IANS