Delhivery, a Gurugram-based logistic startup, reported a net loss of Rs 68 crore in the fourth quarter. The company previously lost Rs 159 crore, but its total income increased from Rs 1,934.2 to Rs 2,194.5 crore. The company helps sellers and buyers have safe delivery experiences across India.
The company’s net loss for the full year declined to Rs 1,007 crore from Rs 259.2 crore. The CEO and managing director of Delhivery, Sahil Baura, said that this year was crucial for the team. The company has delivered consistent service levels, improved profitability, and completed over half the planned long-term capital investments. Delhivery has achieved the working capital improvement, he added. The startup also saw an increase in Express Parcels shipment by 11%, going from 740 million to 663 million in FY23. The company offers real-time monitoring updates about the delivery of products.
The board has approved the incorporation of a wholly-owned subsidiary to manufacture drones and goods shipments through air transport services. The company covers over 19,000 pin codes in India. This Gurugram-based startup plans to scale its operations and enhance its technologies and research centers. The company aims to build operating systems for commerce through world-class infrastructure and logistics operations of the highest quality using its best-in-class cutting-edge engineering and technology. Delhivery calculates the volumetric weight and compares it with the actual weight before deciding the fees, so these aspects directly influence the shipment cost.
Delhivery has known clients in this industry, including Softbank Group International, Bharti Airtel Ltd., OYO, IndusInd Bank, and more. Delhivery is India’s largest Fully integrated logistic provider. It uses cutting-edge technology and engineering to offer its clients and customers the best services. Delhivery is focusing on expanding its services through its innovative technology. The company also offers solutions backed by advanced analytics and is focused on enhancing customer experiences through cost reduction and asset productivity. The platform helps individuals connect over services to track their packages across India.
Conclusion
Delhivery reported a narrowed net loss to Rs 68 crore. Delhivery has known clients in this industry, including Softbank Group International, Bharti Airtel Ltd., OYO, IndusInd Bank, and more. The board has approved the incorporation of a wholly-owned subsidiary to manufacture drones and goods shipments through air transport services. Delhivery is focusing on expanding its services through its innovative technology. This Gurugram-based startup plans to scale its operations and enhance its technologies and research centers.
The company aims to build operating systems for commerce through world-class infrastructure and logistics operations of the highest quality using its best-in-class cutting-edge engineering and technology. The company offers a platform with thousands of vehicles, storage facilities, hyperlocal riders, and various distribution centers across India. The company also offers solutions backed by advanced analytics and is focused on enhancing customer experiences through cost reduction and asset productivity. The platform helps individuals connect over services to track their packages across India.
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