Delhivery Cuts Losses By INR 1,500 Cr In FY20 Amid IPO Plans

It reported a revenue of INR 2,986.4 Cr with INR 3,250.4 Cr expenses, leading to a net loss of INR 284.13 Cr in FY2020

Delhivery’s spending on hiring are bound to increase significantly by FY2022 as it plans to recruit 150+ across senior roles

The logistics unicorn is looking to go public in the upcoming 12-18 months and plans to list itself in India

Gurugram-based ecommerce logistics startup Delhivery has managed to reduce its loss margin by a gracious 84% in the financial year 2020, ending in March last year. The company reported a net loss of INR 284.13 Cr, representing a 6.8x drop from INR 1,781.04 Cr reported in FY2019.

The decline in losses comes ahead of a critical year for the company, where it will likely lay the ground for its planned public listing in 2022-23. Delhivery has also reduced its expenses by 6% to INR 3,250.4 Cr and increased its revenue by 74% to INR 2,986.4 Cr in FY2020. It had reported a revenue of INR 1,694.9 Cr and expenses of INR 3463.31 in FY2019.

It had…