Delhivery FY19 net losses increase 160% to Rs 1,781 crore

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Published: October 26, 2019 2:29 AM

Delhivery has crossed 17,500 pincodes across India, the company said last month. Total expenses in FY19 shot up to Rs 3,463.3 crore from Rs 1,755.25 crore in FY18, the data showed.

Earlier this week, Rivigo reported losses of over Rs 500 crore in FY19, more than double compared to the previous year.

Delhivery’s net losses increased by 160.21% to Rs 1781.03 crore for the year ended March 2019, compared with the year-ago period. Revenue from operations grew 62.24% year-on-year to Rs 1653.83 crore in FY19, according to the company’s RoC filings sourced from business signals platform Tofler.

The firm claims that it created over 10,000 new jobs and built on its business in the previous year. Delhivery has crossed 17,500 pincodes across India, the company said last month. Total expenses in FY19 shot up to Rs 3,463.3 crore from Rs 1,755.25 crore in FY18, the data showed.

The Gurgaon-based logistics firm competes with firms like Rivigo and BlackBuck. Earlier this week, Rivigo reported losses of over Rs 500 crore in FY19, more than double compared to the previous year.

Delhivery got $413 million in funding led by SoftBank earlier this year, valuing it at over $1 billion. Last month, Canada Pension Plan Investment Board invested $115 million in the firm.

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