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Delhivery Results: Latest Quarterly Results & Analysis

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Delhivery Ltd. 05 Nov 2025 17:16 PM

Q2FY26 Quarterly Result Announced for Delhivery Ltd.

Warehousing & Logistics company Delhivery announced Q2FY26 results

  • Revenue from services (excluding Ecom Express) of Rs 2,546 crore in Q2FY26, growth of 16% YoY vs Rs 2,190 crore in Q2FY25.
  • EBITDA (excluding Ecom Express integration costs) of Rs 150 crore (5.9% margin) in Q2FY26, a growth of 162% YoY from Rs 57 crore (2.6% margin) in Q2FY25.
  • Profit after tax (excluding Ecom Express integration costs), of Rs 59 crore (2.2% margin) in Q2FY26, versus Rs 10 crore (0.4% margin) in Q2FY25.

Result PDF

Warehousing & Logistics company Delhivery announced Q1FY26 results

  • Revenue from services of Rs 2,294 crore in Q1FY26, growth of 6% YoY vs Rs 2,172 crore in Q1FY25.
  • EBITDA of Rs 149 crore (6.5% margin) in Q1FY26, a growth of 53% YoY from Rs 97 crore (4.5% margin) in Q1FY25.
  • Profit after tax of Rs 91 crore (3.8% margin) in Q1FY26, a growth of 67% YoY from Rs 54 crore (2.4% margin) in Q1FY25.

Sahil Barua, MD & Chief Executive Officer, said: “We’re pleased with the strong start to the financial year. The improved profitability as a result of operating at a higher scale reaffirms the inherent operating leverage linked efficiencies in our business. We look forward to the upcoming festive sale season with optimism."

Result PDF

Warehousing & Logistics company Delhivery announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue from services of Rs 2,192 crore in Q4FY25, growth of 6% YoY vs Rs 2,076 crore in Q4FY24
  • EBITDA growth of more than 100% to Rs 119 crore (5.4% margin) in Q4FY25 from Rs 46 crore (2.2% margin) in Q4FY24
  • Profit after tax1 of Rs 73 crore in Q4FY25, an increase of Rs 141 crore YoY from a loss of Rs 69 crore in Q4FY24 making it the fourth consecutive profitable quarter

FY25 Financial Highlights:

  • Revenue from services of Rs 8,932 crore in FY25, growth of 10% YoY from Rs 8,142 crore in FY24
  • EBITDA nearly tripled YoY to Rs 376 (4.2% margin) crore in FY25 from Rs 127 (1.6% margin) crore in FY24
  • Profit after tax1 of Rs 162 crore in FY25, an increase of Rs 411 crore YoY from a loss of Rs 249 crore in FY24, marking FY25 as the first full year of PAT profitability

Sahil Barua, MD & Chief Executive Officer said, “We continue to deliver steady performance in our core transportation businesses. Our ongoing measures to improve profitability are visible in Q4 numbers and we expect continued momentum on this front as growth picks up in FY26.”

Result PDF

Warehousing & Logistics company Delhivery announced Q3FY25 results

  • Revenue from services of Rs 2,378 crore in Q3FY25, a growth of 8% YoY vs Rs 2,194 crore in Q3FY24.
  • EBITDA reduced marginally YoY to Rs 102 crore in Q3FY25 from Rs 109 crore in Q3FY24.
  • Profit after tax grew 114% YoY to Rs 25 crore in Q3FY25 from Rs 12 crore in Q3FY24.

Sahil Barua, MD & Chief Executive Officer, said: “Profitability continued in Q3 despite broader industry headwinds and December has been our highest volume month in PTL thus far post integration of Spoton, which has continued into January as well. On the back of growing revenues, rising profitability and a high quality network, we continue to strengthen our competitive position in the industry.”

Result PDF

Transportation & Logistics company Delhivery announced Q2FY25 results

  • Revenue from services of Rs 2,190 crore in Q2FY25, a growth of 13% YoY v/s Rs 1,942 crore in Q2FY24.
  • EBITDA increased to Rs 57 crore in Q2FY25, an increase of Rs 73 crore YoY v/s an EBITDA loss of Rs 16 crore in Q2FY24.
  • profitability for a second consecutive quarter with a Profit after tax of Rs 10 crore in Q2FY25, an increase of Rs 113 crore YoY v/s a loss of Rs 103 crore in Q2FY24.
  • Express Parcel revenue grew by 7% YoY to Rs 1,298 crore in Q2FY25 from Rs 1,210 crore in Q2FY24 while Express Parcel shipments grew 3% YoY to 185 million in Q2FY25 from 181 million in Q2FY24.
  • Part Truckload revenue grew 27% YoY to Rs 474 crore in Q2FY25 from Rs 373 crore in Q2FY24 and 9% sequentially from Rs 435 crore in Q1FY25.
  • PTL volumes grew 23% YoY to 427K MT in Q2FY25 from 348K MT in Q2FY24 and 7% sequentially from 399K MT in Q1FY25.
  • Supply Chain Serviecs Revenue in Q2FY25 stood at Rs 197 crore, up 21% YoY from Rs 164 crore in Q2FY24 but down 24% sequentially from Rs 259 crore in Q1FY25.
  • Truckload service revenue grew 5% YoY to Rs 158 crore in Q2FY25 from Rs 150 crore in Q2FY24 and 2% sequentially from Rs 156 crore in Q1FY25.
  • Cross Border services grew 43% YoY to Rs 59 crore in Q2FY25 from Rs 41 crore in Q2FY24 and 38% sequentially from Rs 43 crore in Q1FY25.

Sahil Barua, MD & Chief Executive Officer, said: “The stable volume performance during Q2FY25 along with the planned seasonal capacity additions we undertook towards the end of the quarter set us up well for the festive season. We saw a significant increase in the Express volumes in October with daily average volumes being ~25% higher than the pre-festive sale period.”

Result PDF

Transportation & Logistics company Delhivery announced Q1FY25 results:

  • Revenue from Services: Achieved revenue of Rs 2,172 crore in Q1FY25, reflecting a growth of 13% compared to Rs 1,930 crore in Q1FY24.
  • EBITDA Improvement: EBITDA increased to Rs 97 crore in Q1FY25, up Rs 110 crore from an EBITDA loss of Rs 13 crore in Q1FY24.
  • Profit After Tax (PAT): Reported a PAT of Rs 54 crore in Q1FY25, an increase of Rs 144 crore compared to a loss of Rs 89 crore in Q1FY24.
  • Express Parcel Shipments: Grew 4% sequentially to 183 million in Q1FY25, up from 176 million in Q4FY24.
  • Express Parcel Revenue: Revenue increased by 5% sequentially to Rs 1,276 crore in Q1FY25 from Rs 1,217 crore in Q4FY24, and grew 6% year-on-year from Rs 1,202 crore in Q1FY24.
  • Express Parcel EBITDA Profitability: Improved sequentially to 18.2% in Q1FY25.
  • B2B Transportation and Supply Chain Services: Continued strong growth in the larger B2B transportation and supply chain services markets.
  • Part Truckload (PTL) Revenues: Grew 25% year-on-year to Rs 435 crore in Q1FY25, compared to Rs 417 crore in Q4FY24 and Rs 347 crore in Q1FY24.
  • PTL Volumes: Increased 16% year-on-year to 399K MT in Q1FY25 from 384K MT in Q4FY24 and 343K MT in Q1FY24, despite Q1 being seasonally weak for the industry.
  • PTL Service EBITDA Profitability: Expanded to 3.2% in Q1FY25, up from 2.2% in Q4FY24.
  • Supply Chain Services (SCS) Revenue: Stood at Rs 259 crore, growing 11% sequentially from Rs 234 crore in Q4FY24 and 26% year-on-year from Rs 206 crore in Q1FY24, driven by a strong season and new accounts.
  • SCS Pipeline: Remains strong, with active discussions across various sectors, including electricals, FMCG, e-commerce, and automotive.

Result PDF

Transportation-Logistics company Delhivery announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Revenue from services in Q4FY24 stood at Rs 2,076 crore, a 12% increase from Q4FY23's Rs 1,860 crore.
  • EBITDA rose by Rs 33 crore YoY to Rs 46 crore in Q4FY24 compared to Rs 13 crore in Q4FY23.
  • Loss after tax reduced to Rs 69 crore in Q4FY24 from Rs 159 crore in Q4FY23.
  • Express Parcel shipment volume in Q4FY24 reached 176 million with revenue at Rs 1,217 crore, growing by 3% from Rs 1,177 crore in Q4FY23.
  • PTL freight volume grew by 21% to 384K tons in Q4FY24 from 318K tons in Q4FY23, resulting in a 27% revenue increase to Rs 417 crore from Rs 328 crore.
  • Supply Chain Services revenue grew by 25% to Rs 234 crore, and Truckload service revenue by 59% to Rs 174 crore in Q4FY24 compared to Q4FY23.

FY24 Financial Highlights:

  • Revenue from services in FY24 reached Rs 8,142 crore, up by 13% from FY23's Rs 7,224 crore.
  • EBITDA improved significantly by Rs 578 crore, achieving Rs 127 crore in FY24 from a loss of Rs 452 crore in FY23.
  • Loss after tax decreased sharply by Rs 759 crore to Rs 249 crore in FY24 from Rs 1,008 crore in FY23.
  • Express Parcel shipments grew by 11% to 740 million in FY24 from 663 million in FY23, with revenue increasing by 12% to Rs 5,077 crore from Rs 4,552 crore.
  • Part Truckload (PTL) freight volume surged by 30% to 1,429K tons in FY24 from 1,101K tons in FY23, leading to a 31% rise in revenue to Rs 1,517 crore from Rs 1,157 crore.
  • Full-year revenue from Supply Chain Services amounted to Rs 776 crore, Truckload service to Rs 609 crore, and croreoss Border Services to Rs 153 crore.

Sahil Barua, MD & Chief Executive Officer, said, “FY24 has been a crucial year for us where we delivered consistent service levels, significantly improved profitability, completed a large portion of our planned long-term capital investments and achieved material working capital improvement"

Result PDF

Transportation-Logistics company Delhivery announced Q3FY24 results:

Financial Performance
- Delhivery reported a significant year-on-year (YoY) improvement in its EBITDA, marking an increase by Rs 183 crore to Rs 109 crore in Q3FY24, compared to an EBITDA loss of Rs 72 crore in Q3FY23.
- The company also saw a turnaround in Profit after Tax (PAT), registering a positive Rs 12 crore for Q3FY24 versus a Loss after Tax of Rs 196 crore in the same quarter the previous year.
- Revenue from services demonstrated a growth of 20% YoY, reaching Rs 2,194 crore in Q3FY24 up from Rs 1,822 crore in Q3FY23.

Business Segments
- Express Parcel shipments saw an 18% YoY growth in volume, with 201 million shipments in Q3FY24 up from 170 million in Q3FY23. Revenue for this segment increased by 21% YoY to Rs 1,448 crore in Q3FY24 from Rs 1,200 crore in Q3FY23.
- Part Truckload (PTL) freight volumes grew by 37% YoY to 354K tons in Q3FY24, up from 258K tons in Q3FY23, with revenue also increasing by 37% YoY to Rs 379 crore from Rs 277 crore.
- The Truckload service reported a substantial 51% YoY revenue increase to Rs 153 crore in Q3FY24 from Rs 102 crore in Q3FY23.

Infrastructure Updates
- Delhivery operationalised its largest gateway in Lonad, Maharashtra, during Q3FY24, featuring 196 docking stations and the capacity for daily transit of over 1,600 vehicles.

Sahil Barua, MD & Chief Executive Officer of Delhivery, commented on the company's performance: "We are satisfied that network quality remained robust even through the peak season. The highest-ever quarterly EBITDA demonstrates the underlying strength and operating leverage of our business model. We have established adequate infrastructure and capacity for continued growth in FY25."

Result PDF

Transporation-Logistics company Delhivery announced Q2FY24 & H1FY24 results:

Financial Performance:
- Delhivery reported revenue from services of Rs 1,942 crore in Q2FY24, up 8% YoY.
- Adjusted EBITDA loss reduced by 90% YoY to Rs 13 crore in Q2FY24.
- Loss after Tax narrowed by 59% on YoY basis to Rs 103 crore in Q2FY24.

Parcel and Truckload Services:
- Express Parcel shipment volumes grew 12% YoY to 181 million in Q2FY24.
- Revenue from Express Parcel services grew 8% YoY to Rs 1,210 crores in Q2FY24.
- Part Truckload volumes grew 22% YoY to 348K tons in Q2FY24.
- Revenue from Part Truckload services grew 28% YoY to Rs 373 crore in Q2FY24.
- Truckload business saw a robust YoY and QoQ revenue growth of 46% and 15%, respectively.

Operational Highlights:
- Receivables reduced by ~12 days in H1FY24.
- Service quality remained robust throughout H1FY24.
- Network utilization remained stable while expanding capacity in Q2.
- October Express volumes of 70M and daily PTL volumes touching 4,700-5,000MT levels.

Leadership Appointments:
- Suraj Saharan, co-founder of Delhivery, will become the Chief People Officer, effective January 15, 2024.
- Varun Bakshi will become the Head of Business Development, Part Truckload Freight business, effective January 09, 2024.
- Vivek Pabari, SVP of Corporate Finance, will also take up additional responsibilities of Investor Relations & Treasury.

“We are pleased with H1 operating and financial performance, in particular, the reduction in receivables by ~12 days, ahead of our Q1 guidance. Service quality remained robust throughout H1 and network utilization remained stable even as we expanded capacity in Q2, setting us up well for H2. H2 has begun as per our expectations, with October Express volumes of 70M and daily PTL volumes beginning to touch 4,700-5,000MT levels. Volume levels at our mega-facilities have also been consistently high and our Tauru gateway recorded throughput beyond our original design expectations, which bodes well for our newer automated gateways at Bhiwandi and Bangalore”, said Sahil Barua, MD & CEO of Delhivery.

 

 

Result PDF

Transportation-Logistics company Delhivery announced Q1FY24 results:

  • Revenue from services of Rs 1,930 crore in Q1FY24, up 11% YoY from Rs 1,746 crore in Q1FY23 and up 4% sequentially from Rs 1,860 crore in Q4FY23.
  • Adjusted EBITDA loss reduced by 89% YoY to Rs 25 crore in Q1FY24 compared to Rs 217 crore in Q1FY23.
  • Loss after tax narrowed by 78% on a YoY basis to Rs 89 crore in Q1FY24 from Rs 399 crore in Q1FY23 and by 44% on a QoQ basis from Rs 159 crore in Q4FY23.

“We have won important contracts in Q1, from marquee clients like Havells, TATA Motors, and MamaEarth which we expect to reflect in subsequent quarters," said Sahil Barua, MD & CEO.

“In Q1FY24, we expanded capacity and network footprint in line with our growth expectations for H2 of FY24,” added Sahil Barua.

Result PDF

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