Delhivery Q2 Results: Co posts Rs 10 cr profit vs YoY loss, revenue up 13%

Gurugram-based Delhivery posted a consolidated net profit of Rs 10 crore for the quarter ended September 30, 2024 against a loss of Rs 103 crore in the year ago period. However, the profit was down by 81% from Rs 54 crore reported in the June 2024-ended quarter.

The consolidated revenue from operations stood at Rs 2,190 crore which was up by 13% over Rs 1,942 crore posted by the logistics and supply chain company in the corresponding quarter of the previous financial year. On the sequential basis, the revenue was up by 0.80% versus Rs 2,172 crore reported in Q1FY25.

Delhivery's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) increased to Rs 57 crore in Q2FY25, which is an increase of Rs 73 crore YoY versus an EBITDA loss of Rs 16 crore in Q2 FY24.

Express Parcel revenue grew by 7% YoY to Rs 1,298 crore in Q2FY25 from Rs 1,210 crore in Q2FY24 while Express Parcel shipments grew 3% YoY to 185 million in Q2FY25 from 181 million in Q2 FY24.

Part Truckload revenue grew 27% YoY to Rs 474 crore in Q2FY25 from Rs 373 crore in Q2FY24 and 9% sequentially from Rs 435 crore in Q1FY25. PTL volumes grew 23% YoY to 427,000 MT in Q2FY25 from 348,000 MT in Q2FY24 and 7% sequentially from 399,000 MT in Q1 FY25.

Supply Chain Services saw a dip in revenues sequentially on account of client business seasonality. The revenue in Q2FY25 stood at Rs 197 crore, up 21% YoY from Rs 164 crore in Q2FY24 but down 24% sequentially from Rs 259 crore in Q1FY25.

"Pipeline continues to be strong in SCS, with multiple active dialogues across electricals, FMCG, e-commerce, auto and other industry verticals," the filing said.

Truckload service revenue grew 5% YoY to Rs 158 cr in Q2FY25 from Rs 150 cr in Q2FY24 and 2% sequentially from Rs 156 cr in Q1FY25. Cross border services grew 43% YoY to Rs 59 cr in Q2FY25 from Rs 41 cr in Q2FY24 and 38% sequentially from Rs. 43 Cr in Q1 FY25.

“The stable volume performance during Q2 FY25 along with the planned seasonal capacity additions we undertook towards the end of the quarter set us up well for the festive season. We saw a significant increase in the Express volumes in October with daily average volumes being 25% higher than the pre-festive sale period”, said Sahil Barua, MD & Chief Executive Officer.

The earnings were announced after market hours and the shares of Delhivery ended at Rs 328.60 on the NSE, down by Rs 1.70 or 0.51% over the previous closing price.

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