Delhivery share price surged on Thursday after the company launched Rapid Commerce - a sub 2-hour delivery service for brands looking to fulfill the increasing demand for faster order deliveries by consumers.
The service, launched first in Bengaluru, has already started processing over 300 orders daily, demonstrating strong early demand for the offering.
Delhivery stock reacted sharply to the development with the counter surging over 3 percent in today's trading session. The stock advanced 3.09 percent to Rs 334.90 per share on the NSE at around 12:15 PM.
Ajith Pai, Chief Operating Officer at Delhivery, said, "With Rapid Commerce, leading D2C brands can create a superior direct experience and greater control over customer loyalty. Brands can provide consumers faster access to a vast catalogue of products at efficient costs by using our network of shared in-city Rapid Stores."
The company plans to expand the service offering across other metro cities including Hyderabad, Chennai, NCR, Mumbai, Pune and Ahmedabad in the coming months.
Delhivery posted a profit of Rs 10.2 crore in Q2 of the current financial year. The company’s revenues increased 13 percent from Rs 1,941.7 crore in Q2FY24 to Rs 2,189.7 crore in Q2FY25, regulatory filings showed.
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