Delhivery shares rally 5% as Q1 profit jumps 68% YoY; Motilal Oswal raises target price

Delhivery shares rallied 5% to an intraday high of Rs 451.50 on the BSE on Monday after the third-party logistics firm reported a 68.5% year-on-year rise in net profit to Rs 91 crore for the June quarter, driven by tighter operations and stable revenues.

Operating revenue grew 5.6% YoY to Rs 2,294 crore, while its core express parcel segment saw a 14% volume increase, reaching 208 million shipments.

In the post-earnings call, CEO Sahil Barua said the impact of Delhivery’s acquisition of Ecom Express would reflect in the July-September quarter. The Rs…