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Delhivery Q4 net loss narrows to Rs 68 crore

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Express parcel shipments grew by 11%

New Delhi: Logistics company Delivery has said its consolidated net loss narrowed to Rs 68.4 crore in the March 2024 quarter, aided by higher income.

It had posted a Rs 158.6 crore net loss in the year-ago period, the company said in an exchange filing on Friday.

The company’s total income in the quarter under review increased to Rs 2,194.5 crore from Rs 1,934.2 crore a year ago.

Its expenses were Rs 2,257.2 crore against Rs 2,107.6 crore a year ago.

For the full 2024 fiscal, the company’s net loss declined to Rs 259.2 crore from Rs 1,007.7 crore in FY23.

In a separate statement, the company’s MD and CEO Sahil Barua said, “FY24 has been a crucial year for us where we delivered consistent service levels, significantly improved profitability, completed a large portion of our planned long-term capital investments and achieved material working capital improvement”.

Express parcel shipments grew by 11% to 740 million in FY24 from 663 million in FY23.

The company’s board has also approved the incorporation of a wholly-owned subsidiary for manufacturing drones and freight air transport services.

Gurugram-based Delhivery, an integrated logistics services provider, covers around 19,000 pin codes in India.

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