Delhivery turns profitable in Q3FY24; reports 20% YoY revenue growth to Rs 2,194 crore

Indian logistics company Delhivery has turned profitable in Q3FY24, reporting a Profit After Tax (PAT) of Rs 12 crore.

This is a significant turnaround from a loss of Rs 196 crore in the same quarter of the previous year.

Delhivery also saw a 20% YoY revenue growth, reaching Rs 2,194 crore in Q3FY24.

The company witnessed robust growth in its Express Parcel and Part Truckload (PTL) segments, with Express Parcel shipments growing by 18% YoY and PTL freight volumes surging by 37% YoY.

Delhivery's Truckload service also performed strongly, with revenue growing by 51% YoY.

The company highlighted the operationalization of its largest gateway in Maharashtra, equipped with advanced automation and capable of processing significant volumes.

Delhivery's EBITDA saw a notable increase to Rs 109 crore in Q3FY24, compared to a loss of Rs 72 crore in Q3FY23.