Logistics services provider Delhivery posted a mixed set of results during the March quarter of the previous financial year (Q4 of FY23). While its operating profit was marginally in the green, its net losses widened as compared to the year-ago quarter.
Overall revenues, which were in line with estimates, fell 10 per cent year-on-year (YoY). They were dragged down by a sharp fall in business-to-business revenues. On a sequential basis, revenues were up 2 per cent on the back of higher growth in the express parcel delivery (EPD) segment and part truck load (PTL) business.
While EPD volumes were up 6 per cent to 180 million, realisations per shipment fell by Rs 5.2, resulting in revenue decline. The PTL business, however, posted a strong growth with tonnage improving by 23 per cent sequentially. This helped the segment’s revenues improve 19 per cent.
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