New Delhi, Aug 8 (SocialNews.XYZ) Logistics services provider Delhivery on Saturday posted a 64.9 per cent decline in consolidated net profit to Rs 32 crore for the first quarter of FY27.
The company had posted a net profit of Rs 91 crore in the corresponding quarter of the previous fiscal year.
While revenue from operations rose 27.8 per cent to Rs 2,931 crore during the April-June period, compared with Rs 2,294 crore a year earlier.
The operating environment during the quarter remained challenging due to labour availability issues linked to elections, climate-related disruptions, geopolitical uncertainty and changes in labour regulations.
"Q1 environment was particularly challenging owing to volatile labour availability owing to elections and climate disruptions, geopolitical uncertainty and statutory changes to labour codes, requiring us to take heightened measures to support network service quality in the form of buffer staff and network capacity," the company said in a letter to shareholders.
In addition, total expenses rose 29 per cent year-on-year to Rs 3,011.6 crore in the June quarter from Rs 2,326.6 crore in the year-ago period.
The company reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of Rs 214 crore during the quarter, compared with Rs 119 crore a year earlier. EBITDA margin improved to 7.5 per cent from 5.4 per cent.
Shares of Delhivery ended flat at Rs 471.10 -- up 0.26 per cent -- apiece on the BSE on Friday. The stock has recorded a 52-week high of Rs 524.25 and a 52-week low of Rs 374.40 on the exchange.
In the last one month, the stock has declined about nine per cent and more than two per cent in past three months. It delivered a gain of one per cent in last one-year horizon.
Source: IANS
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