Delhivery Q1 Results: Net Profit surges 68% YoY to Rs 91 crore
third party logistics
firm
Delhivery
on Friday reported a 68.5% year-on-year jump in its net profit for the first quarter ended June to ₹91 crore, driven by tighter operations and stable revenue.
The company reported a 5.6% growth in its operating revenue at ₹2,294 crore. The firm's biggest segment of
express parcel shipments
saw a 14% volume growth to 208 million.
Explore courses from Top Institutes in
Please select course:
Select a Course Category
Technology
Healthcare
Data Science
Data Analytics
Others
Artificial Intelligence
Leadership
Finance
healthcare
others
Cybersecurity
PGDM
Public Policy
Management
Digital Marketing
Project Management
Design Thinking
Product Management
Operations Management
CXO
MBA
MCA
Degree
Data Science
Skills you'll gain:
Duration:
12 Weeks
MIT xPRO
CERT-MIT XPRO Building AI Prod India
Starts on
undefined
Get Details
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Click here for more information
adobe.com
Undo
In the post-earnings analysts call,
Delhivery
CEO
Sahil Barua
said the impact of volume growth from
Ecom Express acquisition
will be visible from the July-September quarter. The deal was closed on July 18.
Delhivery will incur integration costs of around ₹300 crore over a six-month period. Barua said the acquisition would increase Delhivery's market share in the third-party logistics (3PL) segment by around 25% - considering Ecom Express was around half its size in volumes.
In a separate stock exchange filing, Delhivery said
Srivatsan Rajan
, its longest-serving independent director, will step down effective September 30.
Live Events
Yashish Dahiya, founder of
PB Fintech
, and Padmini Srinivasan, will join the company's board as
independent directors
.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
39 minutes ago
- Time of India
Case registered against group for forging documents, defrauding govt through fake GST invoicing
New Delhi: Crime Branch of Delhi Police has registered a case against a group allegedly involved in forging official documents and defrauding the govt through fake Goods and Services Tax (GST) invoicing. Directorate General of GST Intelligence (DGGI) conducted a preliminary probe into a syndicate suspected of orchestrating a sophisticated scheme to defraud the govt exchequer. The accused allegedly submitted forged documents and manipulated court procedures to reinstate GST registrations that had previously been cancelled. Officials said four separate writ petitions were filed by individuals representing entities whose GST registrations were revoked. These petitions relied on forged show cause notices (SCNs) dated between Sept 2024 and Feb 2025. The falsified documents were used to claim that cancellations lacked legal basis. You Can Also Check: Delhi AQI | Weather in Delhi | Bank Holidays in Delhi | Public Holidays in Delhi Based on these, the courts granted favourable orders. However, a review by the Central GST, Delhi, East Commissionerate, flagged discrepancies, revealing at least four such orders were obtained using forged official documents. The forged notices appeared to be edited versions of digitally signed documents, with reasons for cancellation deliberately omitted. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like TV providers are furious: this gadget gives you access to all channels Techno Mag Learn More Undo Subsequently, the court directed the DGGI to complete a detailed investigation within one week and submit a formal complaint to the Crime Branch. Following a thorough inquiry at DGGI headquarters, a complaint was lodged, leading to FIR registration under Sections 318(4) (cheating), 336(3) (forgery), 338 (forgery of valuable security), 340(2) (using forged document as genuine), and 61 (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS). Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Time of India
an hour ago
- Time of India
UK CALLING TN: FTA OPPORTUNITY
What does Tamil Nadu stand to gain from the recently announced free trade agreement with the UK? Quite a lot. It offers the state the "opportunity to expand its global industrial footprint across sectors where it already holds a competitive edge," says state industries minister TRB Rajaa. That's because the sectors that the FTA will positively impact include auto components, textiles, leather, and footwear – all of which are critical industries in TN's manufacturing and export basket. Says industry secretary V Arun Roy: "The UK FTA is a big positive for TN. In textiles, it makes our exports to Britain more competitive, and they are expected to more than double. The leather and footwear industry will also witness an export surge. Another beneficiary of more business and job creation will be our well-developed auto component industry." Auto components form the largest chunk of TN's nearly $117 billion (FY24-25) engineering export ecosystem. According to Shradha Suri Marwah, president, ACMA, the FTA will benefit the component sector through better "export opportunities in areas such as electric mobility, precision engineering, and lightweight materials." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Most Beautiful Female Athletes Right Now Undo Rajaa is unequivocal about how big the potential can be. "In the auto and auto components, the tariff reduction from over 100% to just 10% creates massive upside," he says. "Tamil Nadu's globally connected auto industry, which includes companies like Tata Motors (through Jaguar Land Rover) and TVS Motor Company (which owns Norton), can now seamlessly integrate their UK and Indian operations, scaling faster and creating more high-value jobs here in the state," he adds. State-headquartered auto giants are chuffed about this chance to tap the global market via the UK. Says Arun Roy, "The automobile industry with UK operations like Tata-JLR and TVS can use this low tariff opportunity to closely integrate their TN operations with their global supply chain." TVS Motor MD Sudarshan Venu greeted the FTA for opening up "new frontiers for Indian companies to take 'Make in India' to the world". The company, which is preparing to launch its British brand Norton's vehicles this year, "will benefit from the strengthening of trade links between India and the UK," he adds. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai For TN companies with a presence in the UK, the FTA will be a "strategic enabler", says R Dinesh, chairman, TVS Supply Chain Solutions. "As a company with a presence in both India and the UK, (the FTA) will accelerate our ability to deliver cost-effective solutions to global customers." And where the companies go, skills follow. "The state is also a leader in creating qualified professionals in the service sector. These professionals will get more job opportunities in the UK," says Arun Roy. Regarding exports, Tamil Nadu's current strength lies in passenger vehicles (PVs), auto components, and tyres. But, it is now eyeing segments like electric drivetrains and engine management systems to "diversify its portfolio," said state MSME secretary Atul Anand in an earlier interview. The Tamil Nadu Industrial Policy 2021 and EV Policy 2023 incentivize investments in EVs and electronics manufacturing as part of the state's focus on high-value components. The state faces competition from global manufacturing hubs, such as China and South Korea, which have established dominance in EV components. The FTA will be a clear advantage on that front. Given that MSMEs "form the backbone of the auto component industry, they stand to gain from the liberalized terms of trade and improved access to UK markets," adds Marwah. The agreement will be critical for TN's other industries, such as textiles, where TN clocked $8 billion worth of exports last fiscal. "In textiles, the deal is expected to more than double exports from hubs like Tirupur to the UK, making our high-quality knitwear even more attractive in European markets," says Minister TRB Rajaa. The industry seems to concur. According to Dr A Sakthivel, vice chairman of the Apparel Export Promotion Council, the FTA will allow exporters to enjoy a stronger edge over the competition from Bangladesh, Vietnam, and China in the UK market. The same goes for footwear and leather, where Tamil Nadu makes up for nearly 40% of India's output. "The reduction in UK tariffs will boost both traditional leather goods and our fast-growing non-leather manufacturing clusters," Rajaa adds. J Rafiq Ahmed, chairman of Kothari Industrial Corporation, believes that the FTA "will make it cheaper to export labour-intensive goods". Given that the UK is India's third-largest trading partner as far leather and leather products are concerned and TN clocked $1.63 billion in leather exports in FY24-25, the zero duty deal is important for the state's exporters. With inputs from Vaitheeswaran B Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Time of India
an hour ago
- Time of India
Turning trash into energy
S tanding beside mountains of metal scrap, Guru Punghavan believes India's energy security needs participation and research in battery technologies by companies of all sizes. He founded Boson Cell, which manufactures lithium-ion battery cells, using a portion of recycled materials. His father has helmed an aluminum die-casting MSME serving the automobiles and telecommunications sector for 25 years. When Guru took up management, he opted for forward-integration by making aluminium alloys. That's when he noticed the large volume of electronic waste being collected even by a metal recycling company. "This was a niche market which many people did not focus on. So we ventured into refining critical materials from electronic waste," he says. Starting with battery recycling, Boson is focused on building lithium-ion cells for drones, EVs and energy storage applications (ESS). It grinds, separates and purifies critical minerals such as lithium, cobalt, nickel and graphite and converts them into battery grade chemicals. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why This $30 Non-Invasive Glucose Monitor Is Flying Off the Shelves ZAKDAVI Undo Having studied mechatronics and conducted projects in electrochemistry in college helped. "We started these research projects in 2019 to develop refining technologies. Initially, we sold cathode and anode materials, then we focussed on battery cells, as each cell maker has unique needs, and there were limited opportunities," he said. The tech is well understood, but it is hard to execute and is also capital intensive, he adds. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai The startup has developed proprietary technology for refining and processing these materials, which make up around 35% weight of the battery cell. The trading of these materials drew intense scrutiny in the aftermath of recent geopolitical shifts, including China's export controls on battery and refining technologies that took effect in January. Currently India imports more than 80% of its cells and it predominantly comes from China. Boson Cell has built a facility for recovering critical minerals through a process known as black mass generation at Sriperumbudur, with an initial capacity of 0.8 gigawatt hours. "Currently, this serves up to 30% of our inputs, enabling us to focus on the primary business of building cells, but we plan to expand this capacity in the future," Guru Punghavan says. He also worked with South Korean companies to establish manufacturing lines, SoPs and clean rooms for cell manufacturing. Boson Cell has developed two cells for drones with nickel manganese cobalt (NMC) chemistry and is in the process of building four more cells and exploring different cell chemistries, including lithium iron phosphate (LFP). "There are discussions around curbs on rare earth material exports from China. While it does not affect us now, it has highlighted the risks in the battery supply chain. Recycling of e-waste and refining capabilities for lithium, cobalt and nickel are in nascent stage in India and it affects our cell production," he says. The company has raised $1.5 million from friends and family and plans to raise more capital for expanding its production capacity, specifically targeting EV cells. The startup has partnered with drone OEMs and is in talks with electric two and three wheeler OEMs for pilot projects. It is also expecting financial support from the Centre under the Fame II programme. Guru Punghavan believes the govt's targeted support for smaller battery cell manufactures could boost the ecosystem. The startup aims to build a one lakh cell a day production line by the next fiscal and it hopes to source 100% of its materials for the cells from inhouse recycling. The startup is betting on providing faster turnaround times and lower minimum order quantities to gain market share. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
