The company's consolidated net loss in Q4 FY24 decreased by Rs 90.17 crore from Rs 158.67 crore posted in Q4 FY23. While the company’s total income jumped 13.47% YoY from Rs 1,934.2 crore posted in Q4 FY23.

Loss before exceptional items and tax stood at Rs 56.04 crore in Q4 FY24 as compared to Rs 172.62 crore posted in corresponding quarter previous year. The firm reported exceptional loss of Rs 14.65 crore during the fourth quarter of FY24.

During the quarter, adjusted EBITDA stood at Rs 21 crore in Q4 FY24 steeply higher than Rs 6 crore posted in Q4 FY23. Adjusted EBITDA margin improved to 1% in Q4 FY24 as compared with 0.3% recorded in Q4 FY23.

Delhivery reported a shipment volume of 176 million parcels in Q4 FY24, along with revenue from express parcel of Rs 1,217 crore. This represents a 3% increase in revenue compared to Rs 1,177 crore in Q4 FY23.

The company said that Part Truckload freight (PTL) freight volume grew 21% to 384K tons in Q4 FY24 from 318K tons in Q4 FY23. Revenue from PTL service grew 27to Rs 417 crore in Q4 FY24 from Rs 328 crore in Q4 FY23.

On full year basis, the company reported consolidated net loss of Rs 249.2 crore in FY24 as compared with net loss of Rs 1,007.8 crore recorded in FY23. However the total income jumped 14.12% YoY to Rs 8,594.2 crore in FY24.

Sahil Barua, MD & CEO said, “FY24 has been a crucial year for us where we delivered consistent service levels, significantly improved profitability, completed a large portion of our planned long-term capital investments and achieved material working capital improvement”

Meanwhile, the company’s board approved to incorporate wholly owned subsidiary in India. The company will incorporate Delhivery Robotics India.

Delhivery Robotics India to conduct cutting-edge Research and Development (R&D) in UAV technology, focusing on various form factors and payloads for eventual type certification and commercialization, it will also offer Drone as a Service (DaaS), for shipment movement and remote sensing, provide UAV Pilot Training, certifying pilots for internal use and obtaining licenses from DGCA, with deployment for ground operations and Engage in Drone Manufacturing, producing and selling UAVs globally, involving thirdparty manufacturing of composite airframe components, procurement of components, integration, quality testing, and flight trials.

Delhivery is India's largest and fastest growing 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. Delhivery has successfully fulfilled over 2.8 billion shipments since inception and today works with over 33,000 customers, including large & small e-commerce participants, SMEs, and other enterprises & brands.