Shares of Delhivery Ltd. rallied more than 2% in early trade on Monday after it turned profitable in the first quarter of the current financial year.
The logistic services provider posted a consolidated net profit of Rs 54 crore in the quarter ended June in comparison to a loss of Rs 89 crore in the year-ago period, according to an exchange filing.
Delhivery Q1 FY25 Earnings Highlights (Consolidated, YoY)
Revenue up 13% to Rs 2,172 crore versus Rs 1,930 crore (Bloomberg estimate: Rs 2,153 crore).
Ebitda at Rs 97 crore versus loss of Rs 13 crore (Estimate: Rs 45 crore).
Ebitda margin at 3.3% (Estimate: 2.1%).
Net profit at Rs 54 crore versus loss of Rs 89 crore (Estimate: Loss of Rs 68 crore).
The company's express parcel shipment expanded 4% to 183 million in the first quarter from 176 million in the March quarter. Supply-chain services posted a strong growth, with its revenue rising 26% to Rs 259 crore from Rs 206 crore in the year-ago period.
Its part-truck-load revenue jumped 25% to Rs 435 crore against Rs 347 crore in the year-ago period. The PTL volumes swelled 16% in the first quarter.
"Robust growth in PTL and SCS businesses and stable growth in express parcel continue and have enabled improvement in profitability as well," Chief Executive Officer Sahil Barua said.
Delhivery's stock opened lower at Rs 405 apiece on the NSE. However, it recovered from early losses and rallied as much as 2.28% to hit an intraday high of Rs 425.60 apiece.
As of 11:10 a.m., the shares pared gains to trade 0.76% lower at Rs 412.95 apiece, compared to a 2.7% decline in the benchmark Nifty.
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