With this, its intracity delivery feature Delhivery Direct will be present in five cities including Delhi-NCR, Bengaluru, and Ahmedabad.
Delhivery said the intracity feature is aimed at serving small businesses and D2C brands, offering delivery options via two-, three- and four-wheelers based on parcel size. Other prominent players in the hyperlocal delivery space include Porter and Shiprocket.
Nikhil Vij, Head of Intracity Business at Delhivery, said, “We will continue to invest and expand to more cities to serve the growing demand across India.”
The logistics firm also supports intercity shipments to over 18,850 pin codes across India.
In Q2 of the current financial year, Delhivery swung into a net loss of ₹50.3 crore, falling from a profit of ₹10.2 crore in the same period last year, the company reported on November 5.
However, it reported ₹2,559.3 crore in revenue from operations for the quarter ended September 30, up 17% on a year-on-year basis from ₹2,189.7 crore in the same quarter last year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 19.2% from last year to ₹68.2 crore, while EBITDA margin increased by 10 basis points to 2.7% from 2.6% a year earlier.
Shares of Delhivery closed at ₹407.50 apiece, 1.16% below the day’s opening on the NSE on Monday (December 15). It is also below its IPO price of ₹487.
