Mumbai, May 27 (PTI) Logistics services company Delhivery on Friday said it has received a US patent for its proprietary technology product Addfix.

Addfix takes unstructured and incomplete or error-ridden addresses provided by customers and breaks them down into different geographical elements such as country, state, city/town, locality, street, landmark, building, postal code, among others, to give an accurate location for an address, the company said in a release.

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The system has been built using intelligence collected from over a billion successful deliveries and is designed to clock greater accuracy with every passing delivery, it said.

"As a company, our proprietary technology is a core differentiator, and this patent reiterates our commitment to design tech solutions that increase the efficiency and reliability of our customer's supply chains. We have also externalised Addfix and other location intelligence services to customers across the e-commerce and BFSI sectors," said Kapil Bharati, executive director and chief technology officer, Delhivery.

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East West Holdings Q4 profit at Rs 2.83 crore

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Logistics and freight forwarding company East West Holdings (EWHL) posted a consolidated profit after tax of Rs 2.83 crore for the March quarter.

It had reported a loss of Rs 12 lakh in the year-ago period, the company said in a statement.

Consolidated revenue rose by 42 per cent to Rs 229.70 crore during the quarter under review. In the year-ago period, it stood at Rs 161.37 crore.

The company said it has forayed into turnkey projects as well as dangerous and hazardous goods as key verticals among more significant announcements in the pipeline.

Vivek Anand Oberoi, Chief Strategy Officer, EWHL, said this is an exciting momentum for the company and marks a strategic point in its future business path for planned acquisitions. PTI IAS

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)