Delhivery Reports Rs 50.49 Crore Q2 Loss; Plans Expansion into UK and UAE

Mumbai, November 6, 2025: Logistics major Delhivery Ltd (NSE: DELHIVERY; BSE: 543529) reported a consolidated net loss of ₹50.49 crore for Q2FY26, compared with a profit of ₹10.20 crore in the same period last year. Despite the bottom-line decline, the company’s total revenue grew nearly 15% year-on-year to ₹2,651.53 crore. Alongside the results, Delhivery announced plans to expand internationally, with the incorporation of a wholly owned subsidiary in India and step-down subsidiaries in the United Arab Emirates and the United Kingdom.

On a standalone basis, excluding Ecom Express integration costs, the company posted a profit after tax of ₹59 crore, up from ₹10 crore in Q2FY25. The growth in revenue reflects strong operational performance, while the net loss on a consolidated basis was driven by integration and expansion-related costs

Strong Growth in Express Parcel Volumes

The company had strong growth in express parcel volumes. Its revenue from services increased 16% YoY to Rs 2,546 crore. These exclude Ecom Express. The shipment volumes for the quarter increased by 32% reaching 246 million parcels. This was driven by strong festive demand, client expansion, and the Ecom Express acquisition. The festive season growth has continued in the current quarter as well. The factors helped the company to consolidate its client base.

Segmental Performance

The different segments of the company had a mixed quarter individually. The part-truckload (PTL) segment reported a 12% increase in tonnage. It reached 4.77 lakh metric tonnes compared with 4.27 lakh metric tonnes in Q2 FY25. However, revenue of the supply chain services fell to Rs 170 crore from Rs 197 crore a year ago. The truckload revenue also slipped to Rs 150 crore from Rs 158 crore. Further, cross-border services also declined to Rs 38 crore from Rs 59 crore in the same quarter last year.

Global and Domestic Expansion Plans

The company completed the acquisition of Ecom Express in July 2025. The integration costs of the same was Rs 90 crore in Q2. The total costs are expected to remain within Rs 300 crore. Network rationalisation at Ecom has been finalised. It will retain seven key facilities for long-term operations. While a few others are being phased out. The company will also Rapid store network. It will reach 20 active stores across three cities to 25 stores by March 2026.

Further, the board has approved setting up wholly-owned subsidiaries. One subsidiary will be incorporated in India, the United Kingdom and the United Arab Emirates. The indian subsidiary will have an initial investment of up to Rs 12 crore. It will aim to reinforce its logistics core through a dedicated financial services vertical. The foreign subsidiaries will be under Delhivery Singapore Pte Ltd. They will have an investment of up to Rs 5 crore in each entity.

Market Snapshot

The share price of Delhivery Limited was trading at ₹452.60 as of November 06, 2025, 11:15 am. This is a 6.65% or ₹32.25 fall from its previous close of ₹484.85. The intraday range so far has been between ₹443.15 and ₹470.00. The company has had a negative trading session so far. Its total market capitalisation stood at ₹33,850.03 crore. Further, it had a total traded value and volume of ₹527.34 crore and 116.41 lakh shares, respectively.

REF:https://nsearchives.nseindia.com/corporate/DELHIVERYLTD_05112025182219_IntimationIncorporationUKandUAEsigned.pdf

https://nsearchives.nseindia.com/corporate/DELHIVERYLTD_05112025180858_IntimationIncorporationFinancialservicessigned.pdf

https://nsearchives.nseindia.com/corporate/DELHIVERYLTD_05112025170534_OutcomeofBMsigned.pdf

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