Delhivery Q1 Profit Down 65% YoY to ₹32 Cr, Revenue Up 28%
Logistics company Delhivery reported a 65% year-on-year drop in net profit to ₹31.9 crore for the June quarter, despite a 28% increase in revenue.
Logistics firm Delhivery's net profit for the first quarter of the fiscal year, ending June, fell 65% to ₹31.9 crore from ₹91.1 crore in the same period last year. This decline occurred even as the company's operating revenue saw a 28% increase.
Operating revenue for the quarter stood at ₹2,930.7 crore, up from ₹2,294 crore in the first quarter of the previous fiscal year. However, on a sequential basis, revenue declined by 3% from the previous quarter.
Total expenditure for the quarter rose 29% year-on-year to ₹3,011.6 crore. Including other income of ₹114.1 crore, the company's total income reached ₹3,044.8 crore.
Profitability also saw a sequential decline, with profit falling 56% from ₹72.3 crore in the preceding quarter.