Reliant Logistics Institute

Delhivery Q2 net loss narrows 59.5% to Rs 102.94 cr, revenue up 8.1% on-year despite e-commerce slowdown


Delhivery on Saturday recorded a net loss of Rs 102.94 crore during the second quarter of FY24, posting a decline of 59.5 per cent from Rs 254.11 crore during the same period last year. It posted revenue from operations at Rs 1941.75 crore, up 8.1 per cent in comparison to Rs 1796.10 crore during the second quarter of FY23. The company EBITDA loss was at Rs 15.5 crore versus EBITDA loss of Rs 137.8 crore during Q2FY23. While the total income recorded by the logistics services provider stood at Rs 2042.98 crore, it incurred a total expenditure of Rs 2148.19 crore during the quarter in review.
“We are pleased with H1 operating and financial performance, in particular the reduction in receivables by ~12 days, ahead of our Q1 guidance. Service quality remained robust throughout H1 and network utilization remained stable even as we expanded capacity in Q2, setting us up well for H2. H2 has begun as per our expectations, with October Express volumes of 70M+ and daily PTL volumes beginning to touch 4,700-5,000MT levels. Volume levels at our mega-facilities have also been consistently high and our Tauru gateway recorded
throughput beyond our original design expectations, which bodes well for our newer automated gateways at Bhiwandi and Bangalore,” said Sahil Barua, MD & CEO, Delhivery.


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