 "Delhivery")
Logistics firm Delhivery posted a narrower loss on Friday, aided by improved volume growth in its supply chain and truckload services.
The company reported a consolidated loss of Rs 68.47 crore ($8.21 million) for the quarter ended March 31, compared with a loss of Rs 159 crore a year ago.
This however came above analysts' estimated loss of Rs 25.86 crore.
Total income rose 13.5% to Rs 2,195 crore
KEY CONTEXT
Logistics companies have been facing increased competition as more e-commerce platforms are moving towards developing in-house solutions instead of approaching third party logistics to reduce costs.
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Analysts expected to see volume growth for B2B businesses in the fourth quarter, but were wary of price realisations to keep up with the volume growth.
Delhivery, according to analysts, is better placed in this competitive sector on the back of its stronger reach in smaller cities and lower-cost advantage.
Peer Container Corporation of India on Thursday reported a higher fourth-quarter profit aided by volume growth in its export/import segment.
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