Delhivery share price continues to tumble; stock hits 52-week low

Shares of logistics company Delivery continued to tumble on Tuesday, February 11, for the second straight session.

The company touched its intraday low of ₹288.80 apiece. During the intraday trade, Delhivery traded 1.90% lower on BSE at ₹291.30.

On February 10, the logistics unicorn shares had dived as much as 4.9% to hit their 52-week low of ₹299.8 apiece on the NSE during the day’s trade.

Revenue from operations stood at ₹2,378 crore during the quarter, up 8% from ₹2,194 crore in Q3 FY24. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) declined marginally to ₹102 crore during the quarter under review from ₹109 crore in Q3FY24.

Delhivery’s ‘express parcel’ revenue grew 3% year-on-year (YoY) and 15% quarter-on-quarter (QoQ) during the period due to higher express parcel shipments.

The company’s supply chain services revenue grew by a robust 29% YoY to ₹222 crore in the December quarter from ₹173 crore in Q3FY24 on the back of new client additions and expansion in business with existing clients.

Commenting on the Q3 performance, managing director and chief executive officer Sahil Barua said: “Profitability continued in Q3 despite broader industry headwinds and December has been our highest volume month in PTL thus far post integration of Spoton, which has continued into January as well. On the back of growing revenues, rising profitability, and a high-quality network, we continue to strengthen our competitive position in the industry.”

Delhivery is a fully integrated logistics services provider. With its nationwide network covering over 18,700 pin codes, the company provides a wide range of logistics services such as express parcel transportation, PTL freight, TL freight, cross-border, supply chain, and technology services.