Delhivery Q4 results: Company slips back into red, reports net loss of Rs 69 cr; CBO Sandeep Kumar Barasia resigns

"Please don't use this quarter (Q3FY24) to model for the next six quarters. There are forces beyond Delhivery’s control,” Sahil Barua, MD and CEO had told analysts about December quarter’s results.

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26 Aug, 2025 12:21

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Logistics company Delhivery posted a loss of Rs 68.5 crore in the quarter ended 31 March, 2024, down 57 percent from a loss of Rs 159 crore in the corresponding period last year.

In Q4FY24, the company’s revenue increased to Rs 2,076 crore, which was 12 percent higher than Rs 1,860 crore recorded in the same quarter last year.

“FY24 has been a crucial year for us where we delivered consistent service levels, significantly improved profitability, completed a large portion of our planned long-term capital investments and achieved material working capital improvement,” said Sahil Barua, MD & Chief Executive Officer.

In the December quarter, Delhivery had clocked a revenue of Rs 2,194 crore and generated a surprise profit of Rs 11.7 crore, its first ever since at least 2021.

The January-March period is generally slower than the October-December quarter because e-commerce companies would have just concluded their festive sale periods during which demand for services, like that of Delhivery, is heightened.

In fact, Barua while speaking to analysts after announcing the results in the December quarter, however, warned of “swings” in the future, which meant there are still chances the company will incur losses as it stabilises operations.

"Please don't use this quarter (Q3FY24) to model for the next six quarters. There are forces beyond Delhivery’s control,” Barua had told analysts about December quarter’s results.

For the entire FY24, revenue from services stood at Rs 8,142 crore in FY24, a growth of 13 percent from Rs. 7,224 crore recorded in FY23. Similarly, loss after tax narrowed to Rs 249 crore in FY24 from Rs 1,008 Cr in FY23.

CBO departs 

The company also informed the exchanges that its Executive Director and chief business officer, Sandeep Kumar Barasia, has resigned and July 1 will be his last working day. After over nine years with the company, Barasia is leaving for personal reasons.

"I am very grateful to have had the opportunity to participate in the journey of Delhivery as it went from a start-up to India’s largest logistics player, achieving several firsts in the industry. I am proud of what has been accomplished so far and am confident of the continued success of Delhivery in the future" Barasia said.

During his tenure, the company entered new business segments of Supply Chain Services, Truck Load, and Cross-Border logistics and significantly diversified its revenue base. He was also a key member who helped the company IPO.

"Sandeep has been instrumental in the growth and scale up journey of Delhivery and has significantly contributed to making Delhivery the largest logistics player in India. On behalf of the entire Board, I want to thank Sandeep and wish him all the very best for the futurem," MD and CEO Barua said.

Delhivery’s shares closed 0.78 percent higher at Rs 453.85 apiece on the BSE.