Delhivery Reports Rs 50.49 Crore Net Loss Despite Revenue Growth in Q2 FY26

Delhivery, a logistics service provider, reported a consolidated loss of Rs 50.49 crore for the September quarter. This contrasts with a profit of Rs 10.20 crore in the same period last year. Despite the loss, total income increased by 14.81% to Rs 2,651.53 crore from Rs 2,309.33 crore a year earlier, as per their regulatory filing.

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On a standalone basis, Delhivery's profit after tax, excluding Ecom Express integration costs, was Rs 59 crore in Q2 FY26. This is an increase from Rs 10 crore in the same quarter of the previous year. Revenue from services, excluding Ecom Express, rose by 16% to Rs 2,546 crore compared to Rs 2,190 crore in Q2 FY25.

Express Parcel and Truck Load Growth

The express parcel segment saw shipment volumes grow by 32%, reaching 246 million shipments from 185 million in the previous year's second quarter. The acquisition of Ecom Express contributed to consolidating Delhivery's market share with key clients. The company noted that organic client growth and strong festive demand are expected to continue into Q3 FY26.

In the part truck load segment, tonnage increased by 12% to 4.77 lakh metric tonnes in Q2 FY26 from 4.27 lakh metric tonnes in the same quarter of FY25. However, revenue from supply chain services decreased to Rs 170 crore compared to Rs 197 crore in the previous fiscal's second quarter.

Financial Adjustments and Future Plans

Revenue from truckload services stood at Rs 150 crore in Q2 FY26, down from Rs 158 crore in Q2 FY25. Cross-border service revenue also declined to Rs 38 crore from Rs 59 crore in the same period last year. Delhivery plans to expand its Rapid count active stores to 25 by March next year, up from the current 20 stores across three cities.

The company completed its acquisition of Ecom Express in July and has ceased volume manifestation at Ecom since Q1 FY26. The exit of non-express businesses is ongoing, with most revenue transition completed by Q2 FY26. Integration costs for this quarter amounted to Rs 90 crore, with total costs expected to stay within Rs 300 crore.

Delhivery has also finished its network rationalisation plan at Ecom Express, retaining seven facilities for long-term use while planning exits for some unabsorbed facilities. This strategic move aims to optimise operations and enhance efficiency within their logistics network.

With inputs from PTI