Delhivery Slips Into Red In Q2, Posts INR 51 Cr Loss
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Logistics Press Release
November 5, 2025
Delhivery, India’s premier third-party logistics and supply chain solutions provider, recorded a net loss of ₹50.38 crore in Q2 FY26. This contrasts sharply with the same quarter last year (Q2 FY25), during which the company generated a profit of ₹10.20 crore. The loss occurred despite a 16.9% year-over-year surge in operational revenue, climbing to ₹2,559.3 crore in Q2 FY26 from ₹2,189.7 crore in Q2 FY25.
Management cited expenses linked to the integration of recently acquired Ecom Express—completed in July 2025—as a primary factor behind the quarterly loss. Integration costs totaled ₹90 crore and encompassed network streamlining efforts and the discontinuation of non-core operations.
Operationally, the company demonstrated robust growth: express parcel shipment volumes jumped 32% YoY to 246 million orders, while part-truckload (PTL) volumes expanded 12% to 477,000 metric tonnes. Revenue from express parcels rose 24% YoY, and the PTL segment saw a 15% revenue increase.
In leadership updates, Vivek Pabari (currently overseeing Corporate Finance, Treasury, and Investor Relations) will take over as Chief Financial Officer on January 1, 2026. He succeeds Amit Agarwal, who departs after a 13-year tenure.
The company anticipates a return to profitability between Q2 and Q3 post-integration, driven by elevated festive-season demand and continued operational enhancements.
To summarize, Delhivery’s Q2 FY26 performance reflects a ₹51 crore loss largely tied to its Ecom Express acquisition. However, sustained revenue growth and volume momentum signal a strong foundation for recovery in subsequent quarters.
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