Logistics services provider Delhivery Ltd on Thursday (November 14) reported a net profit of ₹10.2 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal, Delhivery had posted a net loss of ₹102.9 crore.

The company’s revenue from operations increased 12.8% to ₹2,189.7 crore against ₹1,941.7 crore in the year-ago period.

At the operating level, EBITDA stood at ₹57.3 crore in the second quarter of this fiscal over a loss of ₹15.7 crore in Q2 FY24.

The EBITDA margin stood at 2.6% in the reporting quarter. EBITDA is earnings before interest, tax, depreciation, and amortisation.

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Delhivery’s Express parcel revenue rose by 7% YoY to ₹1,298 crore in Q2 FY25, up from ₹1,210 crore in Q2 FY24, with shipment volumes increasing by 3% to 185 million from 181 million over the same period.

Part truckload (PTL) revenue grew substantially by 27% YoY to ₹474 crore, compared to ₹373 crore in Q2 FY24, rising 9% sequentially from ₹435 crore in Q1 FY25. PTL volumes also saw a substantial YoY increase of 23%, reaching 427,000 tonnes from 348,000 tonnes, and grew 7% quarter-on-quarter (QoQ) from 399,000 tonnes in Q1 FY25.

Supply chain services (SCS) revenue in Q2 FY25 reached ₹197 crore, marking a 21% YoY growth from ₹164 crore in Q2 FY24, although it declined 24% sequentially from ₹259 crore in Q1 FY25, largely due to client business seasonality. The SCS pipeline remains robust, with ongoing discussions across various sectors including electricals, FMCG, e-commerce, and automotive.

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Truckload service revenue increased by 5% YoY to ₹158 crore, up from ₹150 crore in Q2 FY24, and gained 2% QoQ from ₹156 crore in Q1 FY25. Cross border services demonstrated strong growth, rising by 43% YoY to ₹59 crore in Q2 FY25 from ₹41 crore in Q2 FY24 and 38% sequentially from ₹43 crore in Q1 FY25.

Sahil Barua, MD and Chief Executive Officer, said, “The stable volume performance during Q2 FY25 along with the planned seasonal capacity additions we undertook towards the end of the quarter set us up well for the festive season. We saw a significant increase in the Express volumes in October with daily average volumes being 25% higher than the pre-festive sale period,”

The results came after the close of the market hours. Shares of Delhivery Ltd ended at ₹329.95, down by ₹0.25, or 0.076%, on the BSE.

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