Delhivery recorded a net loss of Rs 399 crore for the quarter ending June 30. This was a record low for the firm, which was twice the loss it had recorded during the same period in the previous fiscal.
The Ecommerce-focused logistics company's freight expense saw an increase of 67 per cent to reach Rs. 1,452 crores.
A rise of 30 per cent was recorded in the revenue from operations of the firm, which had reached Rs. 1,745 crores from the same quarter last fiscal. But this was down by 16 per cent at Rs. 2,071 crores in the previous quarter.
The largest third-party logistics player in the e-commerce space, Delhivery could be considered as the company which would indicate broader industry trends. Due to inflation, e-commerce in India is significantly clocking a rise in consumption across categories.
With a 50 per cent surge in the express parcel volumes, the ecommerce vertical seems to be growing and driving Delhivery’s growth simultaneously.
The revenue from the partial truckload service (PTL), which is the firm’s business-to-business vertical, recorded a fall of 16 per cent. The reason attributed to the same is the fact that the company is in the process of integrating its systems with one of its acquisitions, Spoton.
The company incurred an adjusted Ebitda loss of Rs. 217 crore in this quarter as compared to Rs 58 crore loss in the same period a year ago.