Logistics major Delhivery delivered a better-than-expected operational performance in the April-June quarter, improving its outlook in key segments and bolstering expectations that the stock will sustain. Volumes in the company's largest segment, express logistics, were muted, but cost control measures helped Delhivery exceed margin expectations.
Most brokerages have a positive outlook on the company, citing its focus on improving volumes, profitability, and diversification into fast-growing categories.
The express parcel segment, which accounts for 60 per cent of the company's revenue, reported an underwhelming 6 per cent revenue growth in a seasonally weak quarter. Although volume growth did not meet expectations, yields were up 5.6 per cent, aiding sales growth in the segment.
The partial truckload (PTL) segment grew 25 per cent over the year-ago quarter, driven by a 16 per cent increase in freight tonnage.
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