India's Delhivery swings to Q1 profit on strong growth in key segments
BENGALURU, August 2 (Reuters) -Logistics firm Delhivery DELH.NS swung to a first-quarter profit on strong growth in its supply chain, part truckload and express parcel services.
The company reported a consolidated profit of 543.6 million rupees ($6.5 million) on Friday, from a loss of 894.8 million rupees a year ago.
It had posted a narrower loss of 684.7 million rupees in the March 2024 quarter.
For further earnings highlights, click: (Full story)
KEY CONTEXT
Delhivery reported revenue growth in three key segments - supply chain services (SCS), the part truckload (PTL) segment, which handles smaller cargo, and the express parcel segment, which accounts for more than half of the overall revenue - due to a mix of new clients and summer demand.
"Robust growth in PTL and SCS businesses and stable growth in Express Parcel continues and have enabled improvement in profitability as well," Managing Director and CEO Sahil Barua said.
Rival Mahindra Logistics MALO.NS reported a sixth straight quarter of loss hurt by higher costs, while Blue Dart Express's BLDT.NS expenses overrode recovering volumes, leading to its quarterly profit fall.
PEER COMPARISON
Valuation (next 12 months) | Estimates (next 12 months) | Analysts' sentiment | |||||||
RIC | PE | EV/EBITDA | Revenue growth % | Profit growth % | Mean rating* | # of analysts | Stock to price target** | Div yield (%) | |
Delhivery | DELH.NS | 363.41 | 43.93 | 17.34 | - | BUY | 21 | 0.79 | - |
Mahindra Logistics | MALO.NS | 55.85 | 11.96 | 13.95 | - | SELL | 11 | 1.14 | 0.49 |
Blue Dart Express | BLDT.NS | 47.25 | 20.27 | 11.59 | 27.69 | HOLD | 5 | 1.03 | 0.31 |
VRL Logistics | VRLL.NS | 30.31 | 11.65 | 13.52 | 54.28 | BUY | 9 | 0.83 | 0.87 |
* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
APRIL-JUNE STOCK PERFORMANCE
-- All data from LSEG
-- $1 = 83.76 Indian rupees
APRIL-JUNE STOCK PERFORMANCE https://tmsnrt.rs/3WL5FgR
Reporting by Anisha Ajith in Bengaluru
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