Delhivery dives into ₹50.3 cr net loss, revenue up 17% in Q2

Logistics firm Delhivery swung into a net loss of ₹50.3 crore in the second quarter from a profit of ₹10.2 crore in the same period last year, the company reported on Wednesday, November 5.  

However, it

reported ₹2,559.3 crore in revenue from operations for the quarter ended September 30, up 17% on a year-on-year basis from ₹2,189.7 crore in the same quarter last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 19.2% from last year to ₹68.2 crore, while EBITDA margin increased by 10 basis points to 2.7% from 2.6% a year earlier.

Delhivery saw high shipping demands during the festive season and served a record 19,100 clients in a single day in September, the company said in an exchange filing on October 3. It shipped goods worth ₹19,500 crore in September and processed more than 104.4 million ecommerce and freight shipments in the month.

Shares of Delhivery closed at ₹484.85 apiece on Tuesday, November 4, up 2.67% from the day's opening. The stock is likely to react to Q2 performance on Thursday, November 5. However, the stock remains below its IPO price of ₹487.