Delhivery bets on improving H2 demand to deliver earnings
Logistics company Delhivery Ltd poured cold water on investors’ hopes with muted September quarter (Q2FY24) earnings. Revenue at ₹1,942 crore, rose 8% year-on-year, falling short of consensus estimates. The crucial Express Parcel business with 12% volume growth at 181 million, lagging expectations, was a dampener. Importantly, the adjusted Ebitda loss of ₹13 crore, although narrowing, was another concern. The management attributed lower growth in the first half of the year to a slew of factors such as integration of Spoton Logistics, expanding its presence across geographies. Ebitda is earnings before interest, taxes, depreciation, and amortization.
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