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11 hours ago
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New-age third party logistics firm Delhivery on Friday reported a 68.5% year-on-year jump in its net profit for the first quarter ended June to ₹91 crore, driven by tighter operations and stable revenue.
The company reported a 5.6% growth in its operating revenue at ₹2,294 crore. The firm's biggest segment of express parcel shipments saw a 14% volume growth to 208 million.
In the post-earnings analysts call, Delhivery CEO Sahil Barua said the impact of volume growth from Ecom Express acquisition will be visible from the July-September quarter. The deal was closed on July 18.
Delhivery will incur integration costs of around ₹300 crore over a six-month period. Barua said the acquisition would increase Delhivery's market share in the third-party logistics (3PL) segment by around 25% - considering Ecom Express was around half its size in volumes.
In a separate stock exchange filing, Delhivery said Srivatsan Rajan, its longest-serving independent director, will step down effective September 30.
Yashish Dahiya, founder of PB Fintech, and Padmini Srinivasan, will join the company's board as independent directors.
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