Delhivery Q3 PAT climbs 113% YoY to Rs 25 cr

Delhivery reported 113.4% surged in consolidated net profit of Rs 24.99 crore in Q3 FY25 as against Rs 11.71 crore posted in Q3 FY24.

Reveneue from operations jumped 8.4% to Rs 2,378.30 crore in the third quarter of FY25 as against Rs 2,194.47 crore posted in Q3 FY24.

Profit before tax was at Rs 23.81 crore in the third quarter of FY25, up 1.6% from Rs 23.44 crore posted in the same period a year ago.

EBITDA for Q3 FY25 decreased by 6.42%, totaling Rs 102 crore, compared to Rs 109 crore in Q3 FY24. Additionally, the EBITDA margin declined to 4.3% in Q3 FY25, down from 5% in Q3 FY24.

Delhivery said that Express Parcel revenue grew 3% YoY to Rs 1,488 crore in Q3 FY25 from Rs 1,448 crore in Q3 FY24. Express Parcel shipments grew 2% YoY to 206 million in Q3 FY25 from 201 million in Q3 FY24.

Part truckload revenue grew 22% YoY to Rs 462 crore in Q3 FY25 from Rs 379 crore in Q3 FY24. Part Truckload volumes saw a robust volume growth of 17% YoY to 412K MT in Q3 FY25 from 354K MT in Q3 FY24.

The company said that the supply chain services revenue grew by a robust 29% YoY to Rs 222 crore in Q3 FY25 from Rs 173 crore in Q3 FY24 on the back of new client additions and expansion in business with existing clients.

Truckload service revenue grew 5% YoY to Rs 160 crore in Q3 FY25 from Rs 153 crore in Q3 FY24. Cross-border services revenue grew 12% YoY to Rs 43 crore in Q3 FY25 from Rs 39 crore in Q3 FY24.

Sahil Barua, MD & CEO, said, Profitability continued in Q3 despite broader industry headwinds and December has been our highest volume month in PTL thus far post integration of Spoton, which has continued into January as well. On the back of growing revenues, rising profitability and a high-quality network, we continue to strengthen our competitive position in the industry.

Meanwhile, the companys board has approved the initiation of the liquidation process for Delhivery Bangladesh Logistics (Delhivery Bangladesh), a step-down wholly owned subsidiary located in Bangladesh. It is important to note that Delhivery Bangladesh is a direct wholly owned subsidiary of Delhivery Singapore Pte, Singapore ("Delhivery Singapore"), which, in turn, is a wholly owned subsidiary of the company.

The liquidation of Delhivery Bangladesh is expected to be completed within one year, subject to the necessary approvals as per the legal requirements of the host country.

Upon completion of the liquidation, in accordance with the host countrys legal requirements, the net realizable value of Delhivery Bangladesh's assets (after settling all liabilities) will be transferred to Delhivery Singapore on an arm's length basis. This transaction will be reported under related party transactions of Delhivery Singapore.

Delhivery is India's largest fully integrated logistics services provider. With its nationwide network covering over 18,700 pin codes, the company provides a wide range of logistics services such as express parcel transportation, PTL freight, TL freight, cross-border, supply chain, and technology services.

The counter slipped 1.55% to end at Rs 316.75 on Friday, 7 February 2025.

Powered by Capital Market - Live News