Logistics major Delhivery swung back to the black in Q3 FY26. The company reported a net profit of INR 39.6 Cr, up 59% from the INR 24.9 Cr PAT reported in the year-ago period
Revenue from contracts with customers rose 18% to INR 2,804.9 Cr in the period under review, from INR 2,378.2 Cr reported in the same period last year
Including other income of INR 77.1 Cr, its total income for the period stood at INR 2,882.1 Cr
After plunging into losses in the September quarter, logistics major Delhivery swung back to the black in Q3 FY26. The company reported a net profit of INR 39.6 Cr, up 59% from the INR 24.9 Cr PAT reported in the year-ago period.
The company had reported a loss of INR 50.4 Cr in Q2 FY26.
Revenue from contracts with customers rose 18% to INR 2,804.9 Cr in the period under review, from INR 2,378.2 Cr reported in the same period last year. On a QoQ basis, its revenue increased 10% from INR 2,559.3 Cr in the previous quarter.
Including other income of INR 77.1 Cr, its total income for the period stood at INR 2,882.1 Cr Meanwhile, total expenses increased 15% to INR 2,819.9 Cr, from INR 2,450.9 Cr in the previous quarter.
In the quarter, the company registered an INR 6.5 Cr impairment loss on an undisclosed investment as well as a one-time expense of INR 20.9 Cr due to the Central government’s alteration of the labour laws. While exceptional item expense for the quarter stood at INR 27.4 Cr, it was nil in the year-ago quarter.
Prior to exceptional items and the integration costs pertaining to Ecom Express integration, the company said that its PAT for the quarter stood at INR 110 Cr. Important to note that expenses pertaining to Ecom Express’ integration led the company to register a loss in Q2. During the Q2 earnings call, CEO Sahil Barua said the integration of Ecom Express will cost the company another INR 100 Cr-110 Cr over the next two quarters.
The company’s adjusted EBITDA for Q3 zoomed 227% YoY to INR 147 Cr, The company claimed that this metric surged to an all-time high in its history and was at par with the whole of FY25. Delhivery also crossed the INR 1,000 Cr mark in cumulative service EBITDA for the first nine months of FY26.
The company attributed the growth in its top line in the quarter under review to higher demand. This led to a 43% YoY spike in express parcel shipments to 29.5 Cr.
The company claimed that its part truck load (PTL) offering crossed 500K metric tonnes for the first time in the quarter, growing 23% YoY. The spike in demand for this service was driven by “consistent sales efforts and stable service precision and service quality despite large increase in network volumes”.
Delhivery’s transportation services (express parcel and PTL combined) delivered a service EBITDA margin of 16% during the quarter, on the back of improved asset utilisation and cost discipline.
In terms of capacity and reach, Delhivery ended the quarter with service coverage across 18,838 pin codes, 123 gateways and 49 automated sort centres. The company also expanded its fleet to an average of 21,226 vehicles per day, up from 18,612 in the previous quarter, to support peak demand and growing express and PTL volumes.
Shares of Delhivery ended Friday’s trading session 2.61% higher at INR 422.5.
Curated by Aisha Patel
