Delhivery's Stock Soars as Profits Surge and Acquisition Success

On Monday, Delhivery's stock surged 6% to reach a 52-week high, following the announcement of a significant profit rise. The logistics provider reported a 67% increase in net profit, clocking Rs 91 crore for the June quarter.

Stocks on both NSE and BSE reflected investor optimism, hitting highs of Rs 455.80 and Rs 455.50 per share, respectively. Simultaneously, the broader market saw gains, with the BSE Sensex climbing 207.43 points and the NSE Nifty rising 74.35 points.

Delhivery's report detailed a revenue increase to Rs 2,294 crore from contracts, growing 6% YoY. Shipment volumes improved by 14% YoY to 20.8 crore, cementing its performance. The company also finalized its acquisition of Ecom Express for Rs 1,407 crore, signaling further strategic growth moves.

(With inputs from agencies.)