Delhivery Q3: First of many profitable quarters?

Over the long run, the company is poised for growth on the back of a strong market position and an expanding consumer base

Sachin Pal
February 15, 2024 / 10:48 AM IST
Delhivery Q3: First of many profitable quarters?

Delhivery

PRO Only Highlights
-  Quarterly performance largely backed by improved realisations
-  Medium-term triggers China plus and protectionist measures for tyre industry
-  Valuations not inexpensive; but improved medium-term outlook

Highlights Delhivery reported a quarterly profit of Rs 12 crore Strong show by online parcel business; volumes up 18 percent YoY Volumes in part truck load business grew 37 percent YoY in Q3 Incremental gross margins to be around 40-50 percent Stock trades at 2.7x FY25 EV/Sales Delhivery (CMP: Rs 452; Market Cap: Rs 33,311 crore; Rating: Under-weight), a formidable player in the logistics sector, made notable strides in its latest earnings update. The company showcased an impressive financial performance in the December quarter,...