Logistics service provider Delhivery expects to breakeven on an adjusted EBITDA level during the current financial year, cofounder and chief executive Sahil Barua said. Recently, the company’s losses narrowed 78% year-on-year to Rs 89.4 crore for the quarter ended June 30.
The Gurgaon-headquartered company will look to hit net profitability by the end of fiscal year 2025 or the beginning of FY 2026.
Last week, Delhivery reported a net loss of Rs 89.4 crore on revenue from operations of Rs 1,929.8 crore. On a sequential basis, quarterly losses narrowed to almost half from Rs 158.7 crore in the January-March quarter. Quarter-on-quarter revenue grew 3.8%.
Delhivery said the largest share of its yearly cost of expansion have already being incurred in this quarter, and will therefore see its costs stabilize or fall for the succeeding quarters as gross margins keep improving, the firm said.
