Sandeep Barasia, the executive director and chief business officer of Delhivery, has resigned after over nine years with the company. His departure comes as Delhivery reported a net loss of ₹68 crore for the January-March quarter, a decline from a profit of ₹12 crore in the December quarter, but an improvement from a year-on-year net loss reduction of 57%.
Barasia, who was instrumental in Delhivery’s growth and scale-up, played a significant role in establishing the company as India’s largest logistics firm. Sahil Barua, Delhivery’s founder and CEO, expressed gratitude for Barasia’s contributions, noting his impact on the company’s journey to becoming a public entity.
Under Barasia’s leadership as chief business officer, Delhivery ventured into new business areas such as supply chain services, truckload, and cross-border logistics, diversifying its revenue streams. Barasia is leaving to pursue other interests.
Before joining Delhivery, Barasia spent a decade at Bain & Company, where he exited as a partner in 2015. Reflecting on his tenure, Barasia expressed gratitude for being part of Delhivery’s transformation from a startup to India’s leading logistics player.
In its latest financial results, Delhivery narrowed its fourth-quarter losses to ₹69 crore from ₹159 crore a year earlier. Revenue from operations increased by 12% year-on-year, reaching ₹2,076 crore for the January-March 2024 period, compared to ₹1,860 crore the previous year.