According to a report by brokerage firm Bernstein, Gurugram-based logistics startup Delhivery’s market share in ecommerce shipments dropped to 21.5% in FY23 from 23% in FY22. The company’s market share is expected to fall further to 19% by FY30. While its ecommerce parcel volume is expected to grow in the 14-17% range on a YoY basis till FY30, its market share will continue to drop with other third-party logistics players looking at potential gains, Bernstein said. The report added that the closure of online marketplace Shopee impacted Delhivery’s volume growth, however, the impact is expected to moderate from Q1FY24 as Shopee exited in Q1FY23.
Delhivery’s consolidated net loss surged 54.6% to INR 195.6 Cr during the third quarter of FY23 from INR 126.5 Cr in the year-ago quarter. However, net loss declined 23% on a quarter-on-quarter basis from INR 254 Cr in Q2 FY23. Revenue from operations declined 8% year-on-year (YoY) to INR 1,823.8 Cr during the quarter.
Delhivery’s consolidated net loss increased by 54.6% to INR 195.6 Cr in the third quarter of FY23, compared to INR 126.5 Cr in the same quarter of the previous year. However, the net loss declined by 23% on a quarter-on-quarter basis from INR 254 Cr in Q2 FY23. The company’s revenue from operations also declined by 8% YoY to INR 1,823.8 Cr during the same quarter.