Delhivery Limited, a leading logistics service provider, has announced a net profit of ₹54.35 crore for the first quarter of the financial year 2024-25. This marks a significant turnaround from the same quarter last year, where the company posted a net loss of ₹89.48 crore. The results were disclosed in an exchange filing on the Bombay Stock Exchange (BSE) on Friday, August 3.

Following the announcement, Delhivery's shares saw a positive reaction, closing 2.07% higher at ₹416.10, up from ₹407.65 the previous day. The company's results were declared after market operating hours.

The Gurgaon-based logistics firm reported a 12.56% increase in revenue from operations, amounting to ₹2,172.30 crore, compared to ₹1,929.78 crore in the same period the previous year. Despite the positive revenue growth, the company's EBITDA stood at a loss of ₹13 crore, which contrasts with an EBITDA profit of ₹97 crore in the previous year’s first quarter.

Sahil Barua, Managing Director (MD) & Chief Executive Officer (CEO) of Delhivery, attributed the improved profitability to robust growth in the PTL and SCS businesses and stable growth in Express Parcel. He stated, “Robust growth in PTL and SCS businesses and stable growth in Express Parcel continues and have enabled improvement in profitability as well.”

Delhivery continues to strengthen its presence in the larger B2B transportation and supply segment. The company's diverse business portfolio includes express parcel transportation, PTL freight, TL freight, cross-border, and supply chain to technology services. With over 35,000 customers, including large and small e-commerce participants, SMEs, and other brands, Delhivery has successfully managed more than 3 billion shipments.

The company’s press release highlighted a strong pipeline in the SCS segment, with multiple active dialogues across various industry verticals, including electricals, FMCG, e-commerce, auto, and others. This indicates a promising outlook for sustained growth and expansion in the coming quarters.

Also Read : Byju's Dismisses Insolvency Proceedings, Settles ₹158 Crore Payment with BCCI

Delhivery’s impressive turnaround and strategic growth initiatives underscore its commitment to enhancing operational efficiency and expanding its market reach. The company’s focus on innovation and customer-centric solutions positions it well to capitalize on emerging opportunities in the logistics and supply chain industry.

In conclusion, Delhivery's Q1 results for FY2024-25 reflect a remarkable recovery and positive momentum. As the company continues to leverage its strengths and explore new avenues for growth, it is poised to deliver enhanced value to its stakeholders and maintain its leadership position in the industry.

Check latest IPO Review & analysis, Live GMP today, Live Subscription Status Today, Share Price, Financial Information, latest IPO news, Upcoming IPO News before applying in the IPO. The Upcoming IPOs in this week and coming weeks are Utssav Cz Gold Jewels Limited, Dhariwalcorp Limited, Ola Electric Mobility Limited, Ceigall India Limited, Afcom Holdings Limited, Picture Post Studios Limited IPO.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst & Finance Saathi Telegram Channel for Regular Share Market, News & IPO Updates

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX & Upstox.