Delhivery announced its Q4FY23 results on May 19, reporting a net loss of ₹159 crore, compared to ₹119.8 crore in the corresponding period last year. The logistics firm’s revenue from operations in the January-March quarter came in at ₹1,859.6 crore, registering a decline of 10.2 per cent, compared to ₹2,071.7 crore in the year-ago period.
Delhivery’s cross-border services business saw a decline in revenue, despite healthy volumes, hurt by falling global yields in both air and ocean freight and volume impact of the Chinese New Year holidays, the company said in a statement.