Categories Earnings, Other Industries

Earnings | Delhivery Ltd (NSE:DELHIVERY): Q3FY23 Results Out; Total Income fell 5% YoY

Delhivery Ltd (NSE:DELHIVERY) is an Indian logistics and supply chain services company that provides end-to-end logistics solutions to businesses and consumers. The company was founded in 2011 and has since grown to become one of the leading logistics providers in India, with a network of more than 18,500 pin codes and over 2,300 cities across the country. Delhivery offers a range of services including express parcel transportation, e-commerce fulfillment, warehousing and inventory management, and more.

Delhivery, announced its Q3 FY23 earnings with a widened consolidated loss of INR 195.7 crore compared to INR 126.5 crore in the same period last year. The total income was reported at INR 1,918 crore, lower than INR 2,019 crore a year ago, and revenue from contracts with customers declined by 8% to INR 1,823 crore. However, the company reported an adjusted cash profit of INR 34 crore in this quarter compared to a negative INR 32 crore in Q2 FY23. The loss per equity share was INR 2.65. Revenue from contracts with customers declined by 8% to Rs. 1,823 crore. The company reported a negative EPS of Rs. 2.65 for the quarter. For the nine-month period ended December 31, 2022, Delhivery reported a total income of Rs. 5,596.03 crore and a net loss of Rs. 849.105 crore with a negative EPS of Rs. 11.95.

Sahil Barua, Managing Director & Chief Executive Officer, Delhivery. said “Leading indicators of our business – service precision, network speed and quality parameters all continue to show positive traction. We have had a good end to the year and this momentum has carried into 2023. We are confident of continued improvement in our transportation business, especially PTL, and overall profitability metrics,”.

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