Delhivery, a logistics company with headquarters in Gurugram, reported a decrease in its quarterly net loss on Monday, which caused its stock to trade under pressure. The Delhivery lost its early gains and fell as much as 1.9% to Rs 413.4 on the BSE. After the results report, the majority of analysts maintained their favourable opinions on the stock.
Delhivery reported a net loss of Rs 89.4 crore for the first quarter of the current financial year after market hours on Friday, compared to a net loss of Rs 399.3 crore for the same period last year. In a regulatory filing, it reported a yearly sales growth of 10.5%, bringing it to Rs xx crore.
The Delhivery lost its early gains and fell as much as 1.9% to Rs 413.4 on the BSE.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) loss, a commonly used metric evaluating a corporation’s basic corporate performance, was reported by the company at Rs. 13.1 crore. Its EBITDA loss for the prior quarter was Rs 254.2 crore.
Kushal Gupta, a business analyst at Zed, suggests purchasing Delhivery shares on the open market with a target price of Rs. 435 and a stop loss of Rs. 413. Maintaining a “buy” recommendation on Delhivery, CLSA increased its target price from Rs. 497 to Rs. 550. Morgan Stanley boosted its target price from Rs. 415 to Rs. 460 while downgrading the stock from “overweight” to “equal-weight.”
Morgan Stanley boosted its target price from Rs. 415 to Rs. 460 while downgrading the stock from “overweight” to “equal-weight.”
While the reported EBITDA somewhat exceeded the consensus expectations for the Q1 results, Morgan Stanley rated the company’s revenue slightly below its prediction. The rating agency said that while the logistics company underperformed projections in most other divisions, its revenue and volume in its express package business were surprisingly positive.
Maintaining a buy recommendation on Delhivery, Jefferies has increased its target price from Rs. 570 to Rs. 605. Additionally, Macquarie has maintained its outperform recommendation with a target price of Rs. 460 on Delhivery (CMP: 421).