Delhivery posts Q1 net profit of Rs 54 cr, revenue rises to Rs 2,172 cr

Logistics firm Delhivery on Friday posted a profit after tax (PAT) of Rs 54 crore for June quarter FY25.

In the year-ago period, the company incurred a loss of Rs 89 crore.

Revenue in the quarter was Rs 2,172 crore. In the year-ago period, it was Rs 1,930 crore, the company said in a statement.

Besides, EBITDA (earnings before income, taxes, depreciation and amortization) stood at Rs 97 crore in Q1FY25. In the year-ago period, EBITDA was Rs 13 crore.

Delhivery, however, clarified that during Q1FY25, it had a one-time reduction of Rs 19 crore in employee benefit expense due to reversal of cost against unvested ESOPs of employees who exited the company.

"Robust growth in PT (part truckload) and SCS (supply chain services) businesses and stable growth in express parcel continues and have enabled improvement in profitability as well," said Sahil Barua, Managing Director and Chief Executive Officer at Delhivery.

PTL revenue was Rs 435 crore during the quarter as against Rs 347 crore a year ago. PTL volumes stood at 399K MT as against 343K MT despite the first quarter having been a seasonally weak quarter for the industry, it said.

At the same time, supply chain services also showed robust growth in Q1 FY25 with revenue from such services growing to Rs 259 crore as against Rs 206 crore on the back of a strong season and new accounts, Delhivery said.

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

The company also said it continued to make strong inroads into the larger B2B transportation and supply chain services markets.