Delhivery Reduces Quarterly Loss, Embraces Drone Technology

Delhivery's net loss for the March 2024 quarter narrowed significantly to Rs 68.4 crore.

  • Delhivery’s net loss for the March 2024 quarter narrowed significantly to Rs 68.4 crore.
  • Revenue grew to Rs 2,194.5 crore, boosting overall financial performance.
  • Delhivery plans to expand into drone technology and freight air transport services.

Delhivery, a leading logistics company, reported a significant reduction in its net loss for the March 2024 quarter, bringing it down to Rs 68.4 crore from Rs 158.6 crore the previous year. This improvement was driven by higher revenue, which increased to Rs 2,194.5 crore from Rs 1,934.2 crore.

Despite rising expenses, Delhivery’s efforts to streamline operations and improve efficiency contributed to the reduced loss. For the full financial year 2024, the net loss declined to Rs 259.2 crore, a notable improvement from Rs 1,007.7 crore in FY23. Express parcel shipments also grew by 11%, reaching 740 million in FY24.

Looking to the future, Delhivery is focusing on innovative technologies. The company’s board has approved the creation of a subsidiary for manufacturing drones and offering freight air transport services. Operating across approximately 19,000 pin codes in India, Delhivery continues to be a key player in the logistics sector.