Delhivery Ltd brought down net losses by 59 per cent on a y-o-y basis to ₹103 crore for the quarter ending September 30,2023. Losses in the year ago period was ₹254 crore.
Revenue from services stood at ₹1,942 crore ( ₹1,796 crore). Adjusted EBITDA loss reduced by 90 per cent y-o-y to ₹13 crore ( ₹125 crore).
According to the company statement, express parcel shipment revenues grew 8 per cent to ₹ 1,210 crore, while part truckload services grew 28 per cent y-o-y to ₹373 crore.
“Service quality remained robust throughout H1 and network utilisation remained stable even as we expanded capacity in Q2,” Sahil Barua, MD & CEO of Delhivery, said in the statement.
Effective January 15, 2024, Suraj Saharan, co-founder of Delhivery, would take over as the Chief People Officer, while Varun Bakshi would take over as the Head of Business Development, Part Truckload Freight business effective January 09, 2024.