New Delhi, Feb. 14 -- Delhivery Ltd's shares fell over 4% on Friday, dropping to a new 52-week low of Rs.268.45 apiece. For the logistics company that once thrived on the booming e-commerce sector, sluggish B2C volume growth is starting to raise eyebrows.

The December quarter (Q3FY25) marks the fourth straight quarter of low single-digit volume growth in its B2C express business. As if that wasn't enough, competition in the third-party logistics (3PL) segment is intensifying, keeping growth challenges firmly in place. A key customer, Meesho, has stabilized its insourcing exercise, but that hasn't translated into a demand rebound for Delhivery yet.

Plus, this time around, the festival season-a period that should have boosted numbers-ende...