Delhivery reported Q3 Results on February 10, 2023. The company reported its Net loss for Q3FY23 widened to Rs 196 crore, with revenue down 9% YoY.

Delhivery reported its revenue from operations fell 9% YoY to Rs 1,823 crore from Rs 1,995 crore in the corresponding quarter last year.

However, revenue from operations rose marginally by 1% QoQ from Rs 1,796 crore in the preceding September quarter. 

Delhiveryreported 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.

Delhivery 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%.

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. 

“Leading indicators of our business – service precision, network speed, and quality parameters — all continue to show positive traction," the company said.

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