Indian logistics services provider Delhivery reported a quarterly profit on Friday, as its express parcel segment recorded strong growth.
Consolidated net profit stood at 406.4 million rupees ($4.3 million), against a loss of 503.8 million rupees a year ago.
The firm derives most of its revenue from its transport vertical, which forms nearly 86% of the total and grew 22.1%.
The transport vertical comprises express parcel shipping and part-truck load shipping, through which smaller shipments from multiple businesses are shipped together.
Revenue from express parcel shipping grew 21.7% to 19.61 billion rupees. The part-truckload segment recorded revenue growth of 23.1% while revenue from operations rose 20.4%.
Reuters
