A week after Delhivery successfully listed at a premium of 1.7%, the homegrown logistics and supply chain unicorn reported that its revenue more than doubled in the fourth quarter of the fiscal year 2022, while its losses remained more or less flat.

The logistics unicorn saw its revenue from operations grow to reach ₹2071.7 crore in the quarter ended March 31, 2022, an increase of more than two times from the ₹1002.6 crore in the corresponding period a year ago. The total income of the company expanded by over two times from ₹1031.7 crore to ₹2127 crore in Q4 2022.

Its net losses remained more or less flat, growing from ₹118 crore in Q4 FY21 to ₹119.8 crore in the fiscal fourth quarter of 2022. It did drop, however, by 5.5% from ₹126.5 crore in the third quarter. The shares of the logistics unicorn dropped by 3.62% to ₹521 on the BSE at close on Monday.

For the entire year, the consolidated loss of the company came at ₹1011 crore, which is an increase of 143% from the ₹415.7 crore in FY21. Its revenue from operations for the same period increased by 89% to ₹6882 crore, while its total expenses for FY22 increased by more than 91% to reach ₹8064.5 crore.

The unicorn said that it had delivered full-year operating profitability as its adjusted EBITDA came at ₹72 crore, while its adjusted cash profit after tax (PAT) amounted to ₹212 crore for the fiscal year 2022. Its expenses for employee benefits (including ESOP costs) grew by 98% to reach ₹341 crore in the fourth quarter and 115% to clock ₹1313 crore for the entire fiscal year.

Most of Delhivery’s investments in FY22 were in capacity and capability expansion in the form of capex and inorganic growth, as well as investments in working capital requirements.

Delhivery revealed that its express parcel generated ₹1232 crore in revenue in the fourth quarter of FY22 (growth of 84.60%) and ₹4191 crore for the entire financial year (growth of 64%). Its freight handling charges dropped by a slight margin, from 75% in Q4 FY21 to 72.5% in Q4 FY22. It also grew its user base in the fiscal year as it expanded to 18, 074 pin codes and the number of its active customers rose to 23, 613 in the fiscal year.

All of this comes after the company pocketed a staggering ₹5235 crore through its IPO, among one of the largest in the country. The amount however is still significantly lesser than the ₹7460 crore it had initially planned to raise and filed a DRHP for. The IPO was booked 23% on the second day and eventually oversubscribed by 1.7 times.