Delhivery stock: Shares of Delhivery, a company related to logistics sector, are under pressure. The stock fell badly on the special trading day on Saturday and the price fell 4 per cent to Rs 431.20. At the end of trading the share stood at Rs 435.90. The stock closed 3.96% lower than a day earlier.
Delhivery suffered a big loss
Delhivery has suffered a big loss in the March quarter (Q4FY24). The logistics solutions company reported a loss of Rs 68.5 crore in the December quarter against a profit of Rs 11.7 crore. However, losses narrowed by 57 per cent on a year-on-year (YoY) basis. Delhivery’s revenue grew 12 percent year-on-year to Rs 2,076 crore in the March quarter.
Revenue growth in the March quarter was driven by the partial truck load (PTL) and full truck load (FTL) segments (up 27 per cent and 60 per cent year-on-year, respectively). The company’s EBITDA rose to Rs 46 crore from Rs 13 crore in the year-ago period. Delhivery’s margin came in at 2.2 per cent, below estimates of 2.6 per cent, as gross margin expanded 58 bps.
Big resignation in management
There has also been a major resignation in the management of logistics company Delhivery. Sandeep Barasia, the company’s executive director and chief business officer, has left the company after serving for more than nine years. His last day will be June 30, 2024. Barasia joined Delhivery in 2015.
This power share will go for ₹ 18, there is a rush to buy it, the company is debt free
This power share fell from ₹ 136 to ₹ 20, now it is worth buying, the company is in profit.
What does the brokerage have to say?
Brokerage MK Global expects the company to turn PAT positive in FY 2025. The brokerage has set a target price of Rs 500 for this share. With this, ‘buy’ rating has been maintained on the stock. Let us tell you that the 52 week low of the share is Rs 341.05. The share reached this price on May 22, 2023. The share price in February 2024 was Rs 488.05. This is the 52-week high of the stock.
