Q3FY24 Quarterly Result Announced for Delhivery Ltd.
Transportation-Logistics company Delhivery announced Q3FY24 results: Financial Performance - Delhivery reported a significant year-on-year (YoY) improvement in its EBITDA, marking an increase by Rs 183 crore to Rs 109 crore in Q3FY24, compared to an EBITDA loss of Rs 72 crore in Q3FY23. - The company also saw a turnaround in Profit after Tax (PAT), registering a positive Rs 12 crore for Q3FY24 versus a Loss after Tax of Rs 196 crore in the same quarter the previous year. - Revenue from services demonstrated a growth of 20% YoY, reaching Rs 2,194 crore in Q3FY24 up from Rs 1,822 crore in Q3FY23. Business Segments - Express Parcel shipments saw an 18% YoY growth in volume, with 201 million shipments in Q3FY24 up from 170 million in Q3FY23. Revenue for this segment increased by 21% YoY to Rs 1,448 crore in Q3FY24 from Rs 1,200 crore in Q3FY23. - Part Truckload (PTL) freight volumes grew by 37% YoY to 354K tons in Q3FY24, up from 258K tons in Q3FY23, with revenue also increasing by 37% YoY to Rs 379 crore from Rs 277 crore. - The Truckload service reported a substantial 51% YoY revenue increase to Rs 153 crore in Q3FY24 from Rs 102 crore in Q3FY23. Infrastructure Updates - Delhivery operationalised its largest gateway in Lonad, Maharashtra, during Q3FY24, featuring 196 docking stations and the capacity for daily transit of over 1,600 vehicles. Sahil Barua, MD & Chief Executive Officer of Delhivery, commented on the company's performance: "We are satisfied that network quality remained robust even through the peak season. The highest-ever quarterly EBITDA demonstrates the underlying strength and operating leverage of our business model. We have established adequate infrastructure and capacity for continued growth in FY25." Result PDF02-02-2024