Delhivery, an integrated supply chain services firm, said that the net profit dipped to its lowest in several years. More than 80 percent from the preceding quarter, net profit came down in the July-September quarter or Q2 of FY25.
The third-party logistics firm reported a net profit of Rs 10.2 crore in Q2 FY25 compared with Rs 54.4 crore in Q1 FY25.
The income of the company was almost the same as the last quarter.
The company has reported a revenue of Rs 2,189.7 crore in the September quarter of the 2024-25 financial year. In comparison, it was Rs 2,172.3 crore in the June quarter.
As compared with the June quarter, the EBITDA of the company fell at 41 percent at Rs 57.3 crore in the September quarter as against Rs 97.1 crore.
The company's margin also deteriorated by 190 basis points to 2.6 percent for the July-September quarter, compared with 4.5 percent earlier.
In geographies, express parcel revenue at Delhivery was up by 7 percent year-on-year, to Rs 1,298 crore in the second quarter of the current fiscal.
The part truckload space increased 27 percent YoY, with an income of Rs 474 crore. Supply-chain services business jumped to Rs 197 crore during the September quarter.
The truckload services business increased 5 percent, while income from truckload services in September was Rs 158 crore, a marginally higher number than the same period last year. Cross-border services scaled significantly at 43 percent, to Rs 59 crore.
Closing 0.51 % lower at Rs 328.60 on the National Stock Exchange (NSE) on Thursday, the stock of Delhivery reported a day-long decline in its shares value from Rs 331.20.
The sector pipeline of the company remains strong with several active negotiations ongoing across electricals, FMCG, e-commerce, auto, and others' industries, said the company.
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