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Delhivery Q2 Results: Logistics firm Delhivery on Wednesday reported a consolidated net loss for the quarter ended September 30, in stark contrast with analysts' expectations of a net profit. The company's top line grew 16.8 per cent, almost in line with estimates.

Delhivery's second-quarter net loss stood at Rs 50 crore, according to a regulatory filing.

It had secured a net profit of Rs 10 crore for the corresponding period a year ago.

Quarterly revenue came in at Rs 2,559 crore, as against Rs 2,190 crore for the year-ago period.

According to Zee Business research, Delhivery was estimated to log a net profit of Rs 75 crore with Rs 2,574 crore in revenue for the July-September period.

Delhivery's September-quarter operating profit grew to Rs 68 crore from Rs 57 crore a year ago, the filing showed.

The country's financial markets remained shut on Wednesday for Guru Nanak Jayanti.

At the current level, the Delhivery stock is up 39.5 per cent for the year, sharply outperforming the Nifty50's 7.8 per cent rise.

Board transition

Delhivery announced the resignation of Aruna Sundararajan from its board, with effect from January 1, pursuant to her recent appointment as a government nominee on a regulatory body and the increased responsibilities thereof. Sundararajan had joined the Delhivery board as a non-executive independent director in July 2022.

"Delhivery has greatly benefited from Aruna’s vast experience in public service. Her contributions were instrumental in strengthening governance and shaping strategy during a period of significant expansion. On behalf of the Delhivery Board of Directors and team, we express gratitude for her counsel, encouragement, and support. We wish Aruna every success in her future endeavors,” said Sahil Barua, MD and Chief Executive Officer, Delhivery.

The company also announced that Vivek Pabari, head of Corporate Finance, Treasury and Investor Relations, will take over the role of Chief Financial Officer from Amit Agarwal with effect from January 1. Agarwal has resigned for personal reasons after a long and successful 13-year tenure with the company, according to Delhivery.

He will remain with the company till December 31, it added.

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