Delhivery, a logistics company on Friday reported an increase of 32 per cent year-on-year (YoY) in consolidated net loss at Rs 158.6 crore in the quarter that ended on 31 March 2023, compared to Rs 119.8 crore the previous year in the same quarter.
The company’s revenue declined by 10 per cent YoY at Rs 18,59.6 crore in the quarter gone by, against Rs 20,71.7 crore in Q4FY22.
According to the company, its adjusted Ebitda turned positive in Q4FY23 at Rs 6 crore against, Rs 67 crore loss in the previous quarter of the financial year 2022-23.
The company has also reported growth in express parcel volumes by 10 million shipments quarter-on-quarter (QoQ) to 180 million shipments in Q4FY23 from 170 million shipments in Q3 FY23 despite Q3 being a seasonally strong quarter with festive sales.
As per the company, truckload and supply chain services businesses saw a robust QoQ revenue growth of 8 per cent and 6 per cent respectively.
While the cross-border services business saw a revenue decrease of approximately Rs 9 crores, despite robust volumes, on the back of falling global yields in both air and ocean freight and the volume impact of the Chinese New Year holidays.
“The momentum built up in Express and PTL in Q3 has carried into Q4 and FY24 as well,” said Sahil Barua, Managing Director & Chief Executive Officer, Delhivery.
“We have aggressive infrastructure and capability expansion plans in place and are confident of the strong start in April and H1 of May continuing through the year”, Barua added.
