Logistics company, Delhivery, reported a loss of approximately ₹120 crore for the quarter ended March 31, 2022. Losses widened by approximately 1 per cent y-o-y.
For the period under review total income more than doubled to ₹2,127 crore as against the ₹1,032 crore it reported in the year-ago-period.
For the full fiscal, the company saw its net loss widen by 143 per cent, y-o-y to ₹1,011 while the total income increased 83 per cent y-o-y to ₹7,038 crore.
In a note to its accounts, the company added that it had acquired 100 per cent stake in Spoton Logistics Private Limited—engaged in the domestic road business and air business— for a consideration of ₹1,521.6 crore via share purchase agreement dated July 29, 2021.
Post the completion of acquisition, Spoton Logistics has become 100 per cent subsidiary of Delhivery, with effect from August 24, 2021.