Athira Sethu
Kochi, 6 Nov 2025
In Q2 FY26, Delhivery reported a consolidated net loss of Rs 50.38 crore, compared to a profit of Rs 10.20 crore in the same period last year. Despite the loss, the company’s revenue from operations grew by 16.9% YoY, reaching Rs 2,559.3 crore. The growth was driven by strong operational volumes, particularly from the completion of its Ecom Express acquisition and preparations for the Diwali festive season.
While Delhivery reported a net loss for Q2 FY26, the company’s revenue growth, record shipment volumes, and improved operational efficiency highlight its strong market position. The integration of Ecom Express is expected to continue to impact profitability in the short term, but the company’s robust operational performance provides a solid foundation for future growth. The upcoming leadership transition marks another important shift as Delhivery plans its next phase of growth.
Key Financial Metrics
| Metric | Q2 FY26 | Q2 FY25 (YoY) | YoY Change |
| Net Loss | Rs 50.38 crore | Rs 10.20 crore | – |
| Revenue from Operations | Rs 2,559.3 crore | Rs 2,189.7 crore | +16.9% |
| Service Revenue | Rs 2,546 crore | – | +16.3% |
| EBITDA | Rs 150 crore | – | – |
| Profit After Tax (Excluding Ecom Express) | Rs 59 crore | – | – |
| Integration Costs (Ecom Express) | Rs 90 crore | – | – |
| Total Integration Costs Estimate | Rs 300 crore | – | – |
Operational Performance
| Metric | Q2 FY26 | YoY Growth | QoQ Growth |
| Express Parcel Shipments | 246 million orders | +32% | +18% |
| Part-truckload (PTL) Volumes | 477,000 metric tonnes | +12% | – |
| PTL Revenue Growth | – | +15% | – |
| EBITDA Margin (Transportation Segment) | 13.5% | +1.6% YoY | – |
