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Delhivery stock rises 3% post Q4 earnings

Delhivery stock rises 3% post Q4 earnings

Shares of Delhivery gained 3.27 percent to Rs 538.45 against the previous close of Rs 521.40 on BSE.

The market cap of Delhivery rose to Rs 38,645 crore. A total of 0.17 lakh shares of the firm changed hands amounting to a turnover of Rs 88.52 crore on BSE. The market cap of Delhivery rose to Rs 38,645 crore. A total of 0.17 lakh shares of the firm changed hands amounting to a turnover of Rs 88.52 crore on BSE.

Delhivery stock rose over 3 per cent amid a falling market today after the logistics tech company saw its revenue rise more than two-fold in the last quarter. This is the first earnings of the company after the stock was listed on the bourses this month.

Shares of Delhivery gained 3.27 per cent to Rs 538.45 against the previous close of Rs 521.40 on BSE.  

The market cap of Delhivery rose to Rs 38,645 crore. A total of 0.17 lakh shares of the firm changed hands amounting to a turnover of Rs 88.52 crore on BSE.

Revenue more than doubled to Rs 2,072 crore in the quarter under review as against Rs 1,003 crore in the corresponding quarter of the previous fiscal.

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The firm reported an almost flat net loss at Rs 120 crore in Q4 against a loss of Rs 118 crore in the year-ago period.

Total income rose to Rs 2,127 crore in Q4FY22 from Rs 1,032 crore in Q4FY21.

However, on an annual basis, net loss widened to Rs 1,011 crore in FY22 from Rs 415 crore in FY21. Revenue increased 89 per cent to Rs 6,882 crore during the same period.

On May 24, shares of Delhivery were listed at a premium of 1.68 per cent against the IPO issue price. The company offered its shares in a price band of Rs 462 to Rs 487. The stock is listed at Rs 495.20 on NSE.

On BSE, the stock is listed at Rs 493, 1.23 per cent higher than the IPO price. The market cap of the firm stood at Rs 35,718 crore.

The company raised Rs 5,235 crore from the IPO. The issue was subscribed 163 per cent on the third and final of the offer on May 13. The IPO opened on May 11.

The IPO received bids for 10,16,82,330 shares against 6,25,41,023 shares on offer. The portion reserved for retail individual investors (RIIs) received 0.57 times the subscription while the qualified institutional buyers' segment (QIBs) got 2.66 times the subscription and non-institutional investors 0.30 times.