Delhivery shares gain on bagging supply chain contract from Havells India

The logistics company has narrowed its net loss significantly to Rs 89.5 crore for the quarter ended June FY24, against loss of Rs 399.3 crore in year-ago period.

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Delhivery shares traded up 1 percent at Rs 416.20 on August 9 after the company won a contract from Havells India.

The contract to design, build, and operate the factory-to-customer supply chain for Havells in western India.

Strengthening this partnership further, Delhivery and Havells will jointly inaugurate new warehouses in western India to cater to the multi-channel demand spanning general and modern trade to emerging e-commerce retail.

With its latest acquisition of Algorhythm tech, Delhivery will seek to unlock further value through data-driven optimisation of Havells’ supply chain, Delhivery said.

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The logistics company has narrowed its net loss significantly to Rs 89.5 crore for the quarter ended June FY24, against loss of Rs 399.3 crore in year-ago period.

Quarterly consolidated revenue from operations jumped 10.5 percent year-on-year to Rs 1,930 crore during the quarter.

Adjusted EBITDA loss reduced by 89 percent to Rs 25 crore in Q1 and express parcel shipment volumes grew 19 percent to 182 million in Q1 FY24 from 152 million shipments in Q1 FY23.