Integrated supply chain services provider Delhivery (NS:DELH) on Friday reported a net loss of Rs 69 crore in the January-March quarter, down from Rs 159 crore in the same quarter a year ago. The company also announced that Sandeep Barasia, Executive Director and Chief Business Officer, resigned to "pursue outside interest". He will remain in the company only until June 30.
Over the entire fiscal year FY24, Delhivery reported a notable reduction in loss after tax, narrowing by Rs 759 crore to Rs 249 crore compared to Rs 1,008 crore in the preceding fiscal year.
Speaking on the same, MD and Chief Executive Officer Sahil Barua said, “FY24 has been a crucial year for us where we delivered consistent service levels, significantly improved profitability, completed a large portion of our planned long-term capital investments and achieved material working capital improvement,” Revenue was Rs 8,142 crore for FY24, up 13 percent from Rs 7,224 crore for FY23.
Barua warned analysts against using the current quarter to predicate the next six quarters, citing external factors not in Delhivery's hands.
Supply chain services and truckload services clocked 25 percent and 59 percent growth in Q4 FY24.
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