Delhivery’s Q1 Show, Weekly Funding Rebounds & More

Delhivery's Q1 performance showed significant challenges, with profitability plummeting 65% year-over-year to ₹31.9 crore. Revenue grew 28% to ₹2,931 crore, while expenses increased 29% to ₹3,012 crore. EBITDA saw a modest 6.5% rise to ₹156 crore. The company faced difficulties due to labor shortages, fuel costs, weather disruptions, and wage hikes in four states.

However, Delhivery's transport businesses continued to thrive, with express parcel volumes rising strongly and part-truckload volumes improving. New ventures include Delhivery Local, which reached an ARR of ₹100 crore and NBFC arm funding of ₹50 crore. The company also introduced AI tools and systems to optimize operations. Looking ahead, Delhivery expects pricing adjustments and strong volume growth to support top-line growth.

Meanwhile, Indian startups raised a total of $274.4 million last week, a 74% increase from the previous week, with Cleantech and AI sectors leading the funding.