E-commerce growth will slacken to 15% to 20% this year: Delhivery CEO

E-commerce growth will slacken to 15% to 20% this year: Delhivery CEO

Barua is certain that a modest slowdown in Indian e-commerce will be advantageous for the logistics sector.

Sahil Barua, CEO of Delhivery, stated in a post-earnings call that when he predicted an economic recession three quarters ago, “it was generally met with widespread disbelief.” “My opinion of myself hasn’t altered. I anticipate that e-commerce will continue to expand by 15% to 20% annually.

Delhivery had a 5% growth in its operating revenue in the fiscal year 2023, bringing the total to Rs 7,225.3 crore. But from Rs. 1,011 in the 2022 fiscal year to Rs. 1,007.8 crore in the 2023 fiscal year, the company’s net loss barely decreased.

I do want to emphasise that Delhivery has a huge competitive edge in a slowing market where customers are more concerned with profitability, said Barua. “We are by far the most efficient player in the industry, and at a time when our customers are watching their budgets, they will shift more volume to Delhivery. We do not see pricing pressure from our customers, as I previously said. I see this as a plus because our express company is still profitable, and instability is always a good thing.

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