Delhivery Q3 results: Logistics company Delhivery reported Q3 Results on February 10, 2023. The company reported its net loss for the December quarter of FY23 widened to Rs 196 crore from Rs 127 crore in the same quarter of the previous year.
The company reported its revenue from operations fell 9% YoY to Rs 1,823 crore from Rs 1,995 crore in the corresponding quarter last year.
Highlights of Delhivery Q3 Results
| Segments | Q3FY23 | Q3FY22 |
| Revenue from Operations | 1,823 crores | 1,995 crores |
| Net loss for the Quarter | 196 crores | 127 crores |
| Adjusted EBITDA | (28 crores) | (91 crores) |
| EBITDA margin | -3.7% | 3.7% |
Revenue from Operations (Delhivery Q3 Results)
Delhivery reported Its revenue from operations was down 9% YoY at Rs 1,823 crore. It was Rs 1,995 crore in the corresponding quarter of the previous year. However, revenue from operations rose marginally by 1% QoQ from Rs 1,796 crore in the preceding September quarter.
“Leading indicators of our business – service precision, network speed, and quality parameters — all continue to show positive traction. We have had a good end to the year and this momentum has carried into 2023,” said Sahil Barua, MD, and CEO, of Delhivery.
Delhivery stock ended nearly 1.9% lower on the NSE on Friday.
Net loss for the Quarter (Delhivery Q3 Results)
Delhivery reported a net loss for the December quarter of FY23 widened by 55% to Rs 196 crore from Rs 127 crore in the corresponding quarter of the previous year.
Adjusted EBITDA (Delhivery Q3 Results)
Delhivery reported an Adjusted EBITDA for the December quarter of FY23 slide to (Rs 67 crore) from Rs 74 crore in the corresponding quarter of the previous year.
“Additionally, improved capacity utilization in the network, ongoing cost optimization measures, and continued focus on revenue quality & margin improvements across customer segments also contributed to improvement in adjusted EBITDA,” said Sahil Barua, MD, and CEO, Delhivery.
EBITDA margin (Delhivery Q3 Results)
The company reported the EBITDA margin slides by 740 bps from +3.7% Year on Year to -3.7%.
However, the EBITDA margin improved by 330 bps from -7% Year on Year to -3.7%.
Express Parcel and PTL businesses (Delhivery Q3 Results)
Delhivery reported the incremental gross margin in the Express Parcel and PTL (Part Truckload services) businesses combined continued to be approximately 50% in the third quarter as well.
The PTL business demonstrated robust volumes and consistently high service levels through November, December, and January, providing a strong momentum as the business enters the busiest part of the year,” Delhivery said.
Company Outlook (Delhivery Q3 Results)
“Leading indicators of our business – service precision, network speed, and quality parameters — all continue to show positive traction. We have had a good end to the year and this momentum has carried into 2023,” said Sahil Barua, MD, and CEO, of Delhivery.
“We are confident of continued improvement in our transportation business, especially PTL (Part Truckload services), and overall profitability metrics,” said Sahil Barua, MD, and CEO, of Delhivery.
“The SCS customer pipeline continued to expand, with new clients added in the auto ancillary and parts, healthcare, home furnishing & furniture, beauty & personal care, consumer electronics, and construction sectors, along with the expansion of existing contracts in auto, industrial and consumer segments,” the company said.
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