Delhivery in red

Delhivery is the top loser on the BSE since the opening bell today morning, going down 12% to an intraday low at Rs.383.90. Its 52-week low is at Rs.341.05.

The company, for Q4FY24 reported a loss on a sequential basis. Loss for the quarter came in at Rs.68.5 crore v/s a surprise profit of Rs.12 crore in Q3FY24. YoY, loss has come down 57% from 159 crore.

Its revenue from operations rose 12% to Rs.2076 crore while EBITDA was in the green at Rs.46 crore v/s Rs13 crore (YoY).

The company ended FY24 with a 13% rise in revenue at Rs.8142 crore and loss came down from Rs.1008 crore to Rs.249 crore. It turned profitable at EBITDA level at Rs.127 crore v/s loss of Rs.452 crore in FY23.

The market was also perturbed by the resignation of Executive Director and Chief Business Officer (CBO), Sandeep Kumar Barasia; July 1 would be his last working day. After over nine years with the company, Barasia is leaving for personal reasons.