Delhivery shares gain on bagging supply chain contract from Havells India

Shares of Delhivery traded up 1% at Rs 416.2 on August 9 after the company won a contract with Havells India.
Contract to design, build and operate a factory-to-customer supply chain for Havells in West India.
To further strengthen this partnership, Delhivery and Havells will jointly inaugurate new warehouses in West India to meet omnichannel needs, from general and modern commerce to new online retail. floating.
Delhivery said that with the acquisition of the latest Algorhythm technology, Delhivery will seek to harness more value through Havells supply chain data-driven optimization. The logistics company significantly reduced its net loss to Rs 89.5 crore in the quarter ended June fiscal year 24 from a loss of Rs 399.3 a year ago. Quarterly consolidated revenue from operations increased 10.5% year-on-year to Rs 1,930 crore for the quarter.
Adjusted EBITDA loss fell 89% to Rs 25 million in the first quarter and courier parcel shipping volumes increased 19% to 182 million in the first quarter of fiscal 2024, from 152 million shipments. in the first quarter of fiscal year 2023.