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Delhivery Is Not In Talks To Acquire Gati

The speculation came to light after the company announced to invest in the e-commerce SaaS (Software-as-a-Service) platform Vinculum.

Delhivery Is Not In Talks To Acquire Gati
POSTED ON May 24, 2023 1:45 PM

Gurgaon-based delivery and supply-chain start-up platform Delhivey has denied being in any acquisition talks with the Hyderabad-based logistics and e-commerce platform Gati. 

The statement from the Sahil Barua-led firm came after multiple media reports stated that the company might acquire the majority stake in Gati. The speculation came to light after it announced an investment in the e-commerce SaaS (Software-as-a-Service) platform Vinculum

“The company would like to clarify that the news is factually incorrect and baseless. There have been no such discussions whatsoever,” Delhivery stated in an exchange filing.

In one of his tweets, Sahil Barua, the CEO of Delhivery, wrote that he wants the online retail sector to grow by 15-20 per cent amid the decline in demand. 

“I do want to point out that a slowing market in which customers are focussed on profitability is an extreme advantage for Delhivery,” he said. “We are by far the most efficient player in the market and at a time when our customers are counting their costs they will shift more volume to Delhivery.”

Delhivery registered a 10 per cent downfall in the March quarter compared to the previous year. Its net loss also increased to Rs 158 crore from Rs 119 crore in the same period. It also reported a six per cent decline in its net expenses to Rs 2,107 crore from Rs 2,254 crore. Additionally, the company became EBITDA-positive in the same quarter.  

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