Delhivery Reports Rs 11.7 Crore Net Profit in Q3
Feb 02, 2024 17:50
Delhivery Ltd posted a consolidated net profit of Rs 11.7 crore in Q3 FY24, driven by higher income and improved operational efficiency. The company's EBITDA also saw a significant improvement.
New Delhi, Feb 2 (PTI) Logistics services provider Delhivery Ltd on Friday posted a consolidated net profit of Rs 11.7 crore for the December quarter, supported by higher income.
It had reported a loss of Rs 195.7 crore during the year-ago period, the company said in an exchange filing.
The company's total income rose to Rs 2,325.3 crore Rs 1,918.1 crore in the year-ago quarter.
Expenses were at Rs 2,289.9 crore, as against Rs 2,125.8 crore a year ago, it said.
The company's Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) was at Rs 109 crore in the third quarter of the ongoing fiscal. The company posted an EBITDA loss of Rs 72 crore in the third quarter of FY23.
In a separate statement, the company's MD & CEO Sahil Barua said, "The highest-ever quarterly EBITDA demonstrates the underlying strength and operating leverage in our business model. We have established adequate infrastructure and capacity for continued growth in FY25."
During the quarter under review, the company operationalised its largest gateway in Lonad, near Bhiwandi in Maharashtra.
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