Delhivery Q4 net loss comes flat, revenue doubles to Rs 2,072 cr

Logistics tech company Delhivery on Monday reported almost flat net loss at Rs 120 crore for the fourth quarter ended 31 March, 2022. The company had posted a loss of Rs 118 crore in the year-ago period. 

On the other hand, Delhivery saw its revenue grow more than two-folds to Rs 2,072 crore in the quarter under review as against Rs 1,003 crore in the same quarter last fiscal.

The company's total income increased to Rs 2,127 crore in Q4FY22 from Rs 1,032 crore in Q4FY21.

Express parcel volumes grew by 101 per cent, far outstripping the industry volume growth of approximately 40 per cent, the company said in a regulatory filing. 

Further, in full-year term, the company’s financials showed that its net loss widened to Rs 1,011 crore in FY22 from Rs 415 crore in FY21, while its revenue increased 89 per cent to Rs 6,882 crore during the same period.

The company had launched its initial public offer (IPO) on May 11 through which it garnered Rs 5,235 crore, compared to the Rs 7,460 crore figure it had planned to raise earlier. Its shares rose 10 percent to Rs 537 against the issue price on its listing day (May 25).

Shares of Delhivery on Monday closed 3.89 per cent lower at Rs 520.50 apiece on BSE.