SUMMARY
Barua shared that with Transition Robotics, the logistics startup has developed a fixed-wing drone that can carry about 4 Kg of payload for a distance of 40 Km
“So far, we have been testing our drone capabilities and transferring technology to India since the drones need to be manufactured in the country in order to use here,” Barua added
At the time of reporting, Delhivery’s shares were trading at INR 318.75 on the Bombay Stock Exchange as on 13 February, 2.57 PM
Listed logistics unicorn Delhivery plans to evaluate revenue streams for its intellectual property (IP), which is developed for drones, in the fiscal year 2024. The logistics startup’s cofounder and CEO Sahil Barua said this during its December quarter earnings call.
Talking about its drones, Barua shared that with the help of its portfolio company Transition Robotics, it has developed a fixed-wing drone that can carry about 4 Kg payload for a distance of 40 Km.
“So far, we have been testing our drone capabilities and transferring technology to India since the drones need to be manufactured in the country in order to be used here. We also have capabilities to deliver and have done trials in the country with the approval of both national and local regulators,” he added.
The announcement comes during Delhivery’s December quarter earning call, which occurred three days back.
In the December quarter, the listed logistics unicorn posted a consolidated net loss of 54.6% to INR 195.6 Cr as compared to INR 126.5 Cr in the corresponding quarter last year.
Nonetheless, its net loss plummeted 23% on a quarter-on-quarter (QoQ) basis from INR 254 Cr loss incurred in the second quarter of FY23. Its operating revenue stood at INR 1,823.8 Cr in the third quarter, down by 8% year-on-year (YoY) from INR 1,995 Cr in the corresponding quarter last year and INR 1,796 Cr in the September quarter of 2022.
In the third quarter of FY23, its total income, including other income, dropped by 5% to INR 1,918.1 Cr from INR 2,019.2 Cr income recorded in the corresponding quarter of FY21.
At the time of reporting, Delhivery’s shares were trading at INR 318.75 on the Bombay Stock Exchange as on 13 February, 2.57 PM.
Set up in 2011 by Mohit Tandon, Sahil Barua, Bhavesh Manglani, Kapil Bharati, and Suraj Saharan, Delhivery offers an array of logistics services including express parcel transportation, LTL and FTL freight, reverse logistics, and B2B & B2C warehousing, among others.
The logistics startup currently serves more than 26K customers including small and large ecommerce participants, small and medium enterprises (SMEs), and other brands.
In India, it locks horns with logistics unicorns Shiprocket, Xpressbees and BlackBuck.
