Delhivery sees narrowed losses in Q2 as revenue grows 8% year on year
Delhivery’s net loss for the September quarter narrowed to Rs 103 crore from Rs 254 crore in the same period last year. However, the company’s loss after tax widened sequentially from Rs 89.5 crore in the April-June quarter.
The year-on-year decline in net loss came in though the company’s topline grew as it managed to keep costs under control. The firm saw its consolidated operating revenue rise 8% year-on-year to Rs 1,941.75 crore for the second quarter of the fiscal.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitMeanwhile, total expenses were marginally down to Rs 2,148.19 crore in the September quarter from Rs 2,157.79 crore in the year ago period mainly on account of a fall in finance costs and depreciation expenses. The operating loss of the company also reduced significantly to Rs 15.5 crore in the July-September from Rs 137.8 crore in the same period last year.
Most of its revenues came from the express parcel vertical, which contributed 62% of the overall revenue. The part truckload (PTL) business was the next largest revenue stream, contributing 19% to overall revenue.
“I don’t think the current revenue growth is reflective of the long-term growth potential because India remains a deeply underserved market. It has taken us some time to get all the things together, and despite doing that, growing at 8-10% points to the fact that we have a much larger opportunity once these things come together,” said Sahil Barua, cofounder and chief executive at Delhivery.
Number of shipments for
