Delhivery Posts Record Revenue of 3,066 Crore Rupees and Returns to Profit in Q2
Key Facts
Delhivery posted record service revenue of 3,066 crore rupees in the second quarter of fiscal 2027, surpassing 3,000 crore rupees for the first time, the company said on its earnings call. Revenue from operations was 3,066.3 crore rupees, up 20% from 2,559.3 crore in the year-earlier quarter, according to data reported by Moneycontrol. The company returned to a net profit of 40.6 crore rupees, after a net loss of 50.5 crore in the same period a year earlier. The chief executive said the company delivered “a record quarter in terms of volumes, revenue and gross business profitability.” The results came as express parcel activity expanded and profitability improved, while adjusted EBITDA remained below reported net profit.
Express parcel shipments totaled 325 million in the quarter, up about 32% year over year, according to the earnings-call transcript. The company said this growth was at the upper end of its fiscal 2027 volume growth guidance, and did not exceed it. PTL freight volume was about 545,000 metric tons, up 14.2% from the year-earlier period. Revenue from express freight grew 21.7% to 19.61 billion rupees, while PTL revenue rose 23.1%, according to data reported by Reuters via MarketScreener. The transportation segment accounted for nearly 86% of total revenue and grew 22.1%, making it the largest driver of activity in the quarter.
Adjusted earnings before interest, taxes, depreciation and amortization were 123 crore rupees, equivalent to 4% of revenue, the company said. Net profit, meanwhile, was 40.6 crore rupees, marking the first shift from a loss in the year-earlier period to a profit in the comparison presented in the quarterly results. Cash on the balance sheet totaled 4,676 crore rupees at quarter-end, according to management. The company thus provided separate measures of adjusted operating profitability, net earnings and available liquidity. Management said the quarter was a record for gross business profitability, as well as volumes and revenue.
The company said the operating environment was volatile because of higher fuel prices, labor availability challenges and multiple regulatory changes. It added that network service levels heading into the festive season were “the best we have ever recorded.” These challenges coincided with revenue growth in the transportation segment, which represents nearly 86% of the total, and increases in express parcel and PTL volumes. Management also said its ongoing investments in new businesses and in artificial intelligence, engineering and technology “are beginning to show results.” The company linked these investments to the development of its new and technology-related businesses, without detailing their financial contribution during the quarter on the earnings call.
Management said October volumes exceeded its initial expectations at the start of the third quarter, signaling continued strength in activity after the record quarter. The company also said it reset its annual recurring revenue target for its Delhivery Local service to about 280 crore rupees by the fourth quarter of fiscal 2027, compared with an initial target of 250 crore. The higher new target reflects the company’s revised view of the service’s growth trajectory during the current fiscal year. In the stock market, Delhivery shares closed down 2.84% at 386 rupees on October 30, 2026, according to Reuters data published via MarketScreener. The close followed the quarterly results announcement, while the data presented here did not specify the reason for the share move.