Delhivery reports net profit down 65% revenue rises to 2930.7cr
Business
Delhivery, one of India's top logistics companies, saw its net profit drop 65% this quarter, down to ₹31.9 crore from last year's ₹91.1 crore, as margins tightened.
Still, the company's revenue actually jumped 28%, reaching ₹2,930.7 crore compared to the same time last year.
Delhivery shipments surge, tech rollouts
While profits took a hit, Delhivery moved a lot more packages: express parcel shipments soared 55% to 322 million and Part Truck Load volumes grew by 18%.
The company also rolled out some cool tech: SmartNDR (an AI tool to cut down e-commerce returns), an automated warehouse system, and Delhivery Maps for smarter deliveries.
Plus, they're investing up to ₹50 crore into their financial services arm to keep things moving forward.