Shares of Delhivery slipped 4% to hit a fresh 52-week low at INR 308.70 apiece during the intraday trading today (January 27)
Delhivery has partnered with Hindustan Petroleum Corporation Ltd (HPCL) for pan-India lubricant distribution
The logistics major reported a profit of INR 10.2 Cr in Q2 FY25 against a loss of INR 102.9 Cr in the year ago quarter
Shares of Delhivery
continued their downward spiral for the third straight day and slipped 4% to hit a fresh 52-week low at INR 308.70 apiece during the intraday trading on the BSE on Monday (January 27).
The stock has declined nearly 7% in the last five trading sessions and over 27% in the past 12 months.
At 2:57 PM, the market capitalisation of the logistics major stood at INR 22,954.30 Cr (around $2.65 Bn).
The decline in Delhivery’s share price coincided with the company’s announcement that it has partnered with Hindustan Petroleum Corporation Ltd (HPCL) for pan-India lubricant distribution.
Through the partnership, HPCL aims to leverage Delhivery’s robust part truck load (PTL) logistics infrastructure to strengthen its supply chain.
Delhivery reported a consolidated net profit of INR 10.2 Cr in the second quarter of the financial year 2024-25 (Q2 FY25) as against a loss of INR 102.9 Cr in the year-ago quarter.
Sequentially, net profit declined from INR 54.3 Cr.
Revenue from services jumped 13% to INR 2,189.7 Cr in the second quarter of the ongoing financial year from INR 1,941.7 Cr in the year-ago period.
(The story will be updated soon.)
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