Logistics company Delhivery Q4 net loss narrows to Rs 68 crore

Freight sector gains: Logistics company Delivery has reported that its consolidated net loss narrowed to Rs 68.4 crore in the March 2024 quarter, aided by higher income. The company has posted a Rs 158.6 crore net loss in the year-ago period, it said in an exchange filing on Friday.

The company's total income in the quarter under review increased to Rs 2,194.5 crore from Rs 1,934.2 crore a year ago. As per a company statement, Express Parcel shipments grew 11 per cent to 740 million in FY24 from 663Mn in FY23. Revenue from Express Parcel services grew by 12 per cent  to Rs. 5,077 crore in FY24 from Rs. 4,552 Cr in FY23. 

Correspondingly, revenue from PTL service grew 31 per cent to Rs. 1,517 Cr in FY24 from Rs. 1,157 Cr in  FY23. On a quarterly basis PTL freight volume grew 21 per cent to 384K tons in Q4 FY24 from 318K tons in  Q4 FY23, it added. 

Supply Chain Services and Truckload service showed robust growth in Q4 FY24, with revenue from these services growing 25 per cent and 59 per cent respectively in Q4 FY24 vs Q4 FY23. Supply Chain Services revenue was Rs 234 crore in Q4 FY24 vs Rs 188 crore in Q4 FY23. 

Truckload service revenue was Rs 174 crore in Q4 FY24 vs Rs 109 crore in Q4 FY23. On a full-year basis, revenue from Supply Chain Services was Rs 776 crore, Truckload service was Rs 609 crore and Cross Border Services was Rs 153 crore. 

“FY24 has been a crucial year for us where we delivered consistent service levels, significantly  improved profitability, completed a large portion of our planned long-term capital investments and  achieved material working capital improvement”, said Sahil Barua, MD & Chief Executive Officer.