Delhivery Reports Q2 FY26 Financial Results

Delhivery has reported its Q2 FY26 financial results, showcasing a 17% rise in revenue compared to the previous year. Despite this growth, the Gurugram-based logistics company experienced losses during this quarter.

Revenue Growth

Delhivery’s operational revenue surged to Rs 2,559 crore in Q2 FY26 from Rs 2,190 crore recorded in Q2 FY25, as stated in the financial documentation submitted to the National Stock Exchange (NSE). The company’s key revenue streams are its logistics offerings, which encompass warehousing, last-mile delivery services, as well as the design and implementation of logistics management systems. Additionally, Delhivery accrued Rs 92 crore from non-operational activities, resulting in total revenue of Rs 2,651 crore for the quarter.

Expenditure Breakdown

For Delhivery, freight handling and service expenses constituted 68% of its overall costs, which increased by 12.5% to Rs 1,843 crore in Q2 FY26. Expenses related to employee benefits saw a decrease of 22%, totalling Rs 425 crore. Overhead costs, including legal fees and depreciation, contributed to an 18% rise in total expenditures, which escalated to Rs 2,708 crore in Q2 FY26 from Rs 2,294 crore in Q2 FY25.

Financial Losses

The rise in expenditures outpacing revenue led to a loss of Rs 50 crore for Delhivery in Q2 FY26, contrasting with a profit of Rs 10 crore recorded in Q2 FY25. Over the first half of the fiscal year, profit saw a 37% decline, dropping to Rs 40.5 crore in H1 FY26 compared to Rs 64.5 crore in H1 FY25.

Market Position

At the conclusion of the latest trading session, Delhivery’s share price was Rs 486, which assigned the company a market capitalisation of Rs 36,335 crore, approximately equivalent to $4 billion.