JD.com Inc. reported its strongest revenue growth since 2022, driven by a surge in its food delivery service, which is nearing 20 million daily orders. The company's total net revenue for the first quarter reached RMB301.1 billion ($41.8 billion), marking a 15.8% increase year-over-year, surpassing analyst expectations. Despite the growth in new business segments, JD.com faced challenges with its food delivery platform, experiencing a system crash on May 14 during the 618 promotional campaign. The company, which employs 16,000 full-time riders and aims to recruit 100,000 within three months, issued an apology and offered compensation, including free meals for orders delayed over 20 minutes and coupons worth RMB 25 ($3.47) for those with shorter delays or canceled orders. Delhivery Ltd., a key player in India's logistics sector, reported a net profit of Rs 72.56 crore for the fourth quarter of FY25, a significant improvement from a loss of Rs 68.47 crore in the same period last year. However, the company's revenue growth was modest at 5%, with the express parcel service growing by only 3% year-over-year. Delhivery's acquisition of Ecom Express for Rs 1,407 crore has not changed the competitive landscape, as noted by CEO Sahil Barua. In China, the food delivery market is experiencing intense competition, leading to regulatory intervention. The State Administration for Market Regulation (SAMR) summoned major platforms including JD.com, Meituan, and Ele.me to address malpractices and ensure compliance with e-commerce and anti-monopoly laws. SAMR urged the platforms to 'strictly comply' with relevant regulations to safeguard the rights of consumers, merchants, and delivery riders.
Delhivery Q4 results: Growth remains modest, but profitability continues to build https://t.co/PvPBZYnp5o
Delhivery CEO Sahil Barua on the state of 3PL industry: Our competitive positioning continues to get better. There are too many players in this market, and our acquisition of Ecom Express has not changed that. Question arises how long can lossmaking players continue
Delhivery Ltd on Tuesday reports a consolidated net profit of ₹72.56 crore for Q4FY25, in comparison to a loss of ₹68.47 crore in the corresponding period last year. #Delhivery #Q4Results #Q4FY25 #Q4Profits https://t.co/vuNSMY62JF