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Logistics firm Delhivery swung to a first-quarter profit on strong growth in its supply chain, part truckload and express parcel services.

The company reported a consolidated profit of 543.6 million rupees ($6.5 million) on Friday, from a loss of 894.8 million rupees a year ago.

It had posted a narrower loss of 684.7 million rupees in the March 2024 quarter.

For further earnings highlights, click: (Full story)

KEY CONTEXT

Delhivery reported revenue growth in three key segments - supply chain services (SCS), the part truckload (PTL) segment, which handles smaller cargo, and the express parcel segment, which accounts for more than half of the overall revenue - due to a mix of new clients and summer demand.

"Robust growth in PTL and SCS businesses and stable growth in Express Parcel continues and have enabled improvement in profitability as well," Managing Director and CEO Sahil Barua said.

Rival Mahindra Logistics reported a sixth straight quarter of loss hurt by higher costs, while Blue Dart Express's expenses overrode recovering volumes, leading to its quarterly profit fall.

PEER COMPARISON

Valuation (next Estimates (next 12 Analysts' sentiment

12 months) months)

RIC PE EV/EBIT Revenue Profit Mean # of Stock to Div

DA growth % growth % rating* analysts price yield

target** (%)

Delhivery 363.41 43.93 17.34 - BUY 21 0.79 -

Mahindra Logistics 55.85 11.96 13.95 - SELL 11 1.14 0.49

Blue Dart Express 47.25 20.27 11.59 27.69 HOLD 5 1.03 0.31

VRL Logistics 30.31 11.65 13.52 54.28 BUY 9 0.83 0.87

* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

APRIL-JUNE STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 83.76 Indian rupees