On August 9, Delhivery shares experienced a 1 percent increase, reaching Rs 416.20, as the logistics company secured a significant supply chain contract with Havells India. This newly acquired contract involves catering to Havells' demand in the western region through Delhivery's comprehensive supply chain solutions.
Delhivery has strategically positioned itself to design, build, and operate the factory-to-customer supply chain for Havells India Limited, specifically within the western region. By deploying its technology-driven integrated warehousing and transportation solutions, Delhivery aims to deliver enhanced speed, precision, and end-to-end visibility, thereby elevating its supply chain capabilities.
In a move to further fortify this collaboration, Delhivery and Havells intend to jointly inaugurate new warehouses across western India. These facilities will be adept at meeting the diverse demands of various distribution channels, including general and modern trade, as well as the burgeoning e-commerce retail sector.
Utilizing its recent acquisition of Algorhythm tech, Delhivery is poised to enhance operational efficiency by leveraging data-driven optimization strategies within Havells' supply chain.
The recent financial performance also underscores Delhivery's growth trajectory. The logistics company has impressively reduced its net loss to Rs 89.5 crore for the quarter ending June FY24, marking a substantial improvement from the Rs 399.3 crore loss reported in the same period last year.
Furthermore, Delhivery's consolidated revenue from operations has surged by 10.5 percent year-on-year, reaching Rs 1,930 crore during the quarter. This demonstrates their commitment to driving revenue growth. Moreover, the adjusted EBITDA loss has been dramatically curtailed by 89 percent, now standing at Rs 25 crore in Q1. Notably, the volume of express parcel shipments has witnessed a remarkable 19 percent increase, with 182 million shipments recorded in Q1 FY24 compared to 152 million shipments in Q1 FY23.
The synergy achieved through the Delhivery-Havells partnership showcases the logistics company's prowess in leveraging innovative solutions and strategic collaborations to optimize supply chain efficiency and drive business growth.
