Delhivery, the giant in logistics and transportation solutions, observes a slower pace in revenue growth in the FY 17-18. The firm observed a 50% increase in revenue in the FY 16-17, increasing revenue to ₹738.32 crores from ₹495.15 crores. With just a 38% increase in the FY 17-18, the grip of the company in the logistics market looks to have weakened.
Delhi: The Gurugram based logistics company reported a 38% increase in revenue for the financial year 2017-2018. This increase is lower in comparison to the growth it saw in the financial year 2016-2017.
And the company’s latest filings with the Ministry of Corporate Affairs show that the net sales grew to ₹1019.37 crores from ₹738.32 crores in 2017-2018.
This amount is the grand total of the of revenue of its three subsidiaries- Skynet Logistics, Delhivery USA LLC, and Delhivery Corporation Ltd.
But the company stated that the final financial report will be disclosed later.
Delhivery was founded in 2011 and was known as SSN Logistics Ltd. The founders are by Bhavesh Manglani, Kapil Bharati, Mohit Tandon, Sahil Barua, and Suraj Saharan in Gurugram.
As its popularity and investors grew with the passing years, its global market valuation plummeted. And the company became the logistics giant it is today.
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It currently is one of the most funded logistics company. It has raised around $250 million from private equity firms. In November this year, it was working with Softbank to settle an investment deal between $250-450 million.