The rise of in-house delivery fleets by the likes of Meesho has added to the pressure.
Delhivery's management is confident that the worst of the express parcel insourcing trend is behind them. Demand in H1FY25 was muted, especially in the express parcel segment, partly as Q2 is usually a softer quarter. But signs of recovery are emerging. Festive season volumes are strong, with October up 30% on-year and momentum continuing in November.
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