Logistics company Delhivery Ltd poured cold water on investors’ hopes with muted September quarter (Q2FY24) earnings. Income at ₹1,942 crore, up 8% year-on-year, falling short of consensus estimates. The critical Speed Parcel business was a dampener with volume growth of 12% at 181 million, dampening expectations. Important still, the adjusted Ebitda loss of ₹13 crore, though encroachment, another concern. Management attributed lower growth in the first half of the year to a number of factors such as the integration of Spoton Logistics, which expanded its presence across geographies. Ebitda is earnings before interest, taxes, depreciation and amortization.
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