Delhivery’s consolidated net profit for the March quarter of FY26 (Q4 FY26) was almost flat at ₹72.4 Cr as against ₹72.5 Cr in the year-ago quarter
Operating revenue rose 30% to ₹2,850 Cr from ₹2,191.6 Cr in the same quarter last year
Total expenses rose 26.9% to ₹2,853.1 Cr during the quarter under review from ₹2,248.6 Cr in the same period last year
Logistics major Delhivery’s consolidated net profit for the March quarter of FY26 (Q4 FY26) was almost flat at ₹72.4 Cr as against ₹72.5 Cr in the year-ago quarter. On a sequential basis, profit rose 83.3% from ₹39.6 Cr.
Operating revenue rose 30% to ₹2,850 Cr from ₹2,191.6 Cr in the same quarter last year. On a QoQ basis, it rose 1.6% from ₹2,805 Cr.
Including other income of ₹59.4 Cr, total income stood at ₹2,909.4 Cr.
Total expenses rose 26.9% to ₹2,853.1 Cr during the quarter under review from ₹2,248.6 Cr in the same period last year.
Besides announcing its financials, Delhivery announced the appointment of Tata Communication CFO Kabir Ahmed Shakir as a non-executive independent director to its board for a period of five years.
Simultaneously, ex-IndusInd Bank CEO Romesh Sobti tendered his resignation as an independent director of Delhivery. He will also cease to be the chairman of the audit committee as well as the member of the stakeholders relationship committee, risk management committee and M&A committee.
At the operating level, Delhivery’s EBITDA jumped 94% YoY to ₹231 Cr from ₹119 Cr a year earlier. Meanwhile, EBITDA margin expanded to 8% from 5.4%.
The company’s transport business, which comprises express parcel and part truckload (PTL) services, continued to remain the primary growth engine. Transport revenue rose 38% YoY to ₹2,453 Cr in Q4 FY26 from ₹1,773 Cr in the corresponding quarter last year. Adjusted EBITDA for the segment more than doubled to ₹194 Cr from ₹79 Cr, with margins improving to 7.9% from 4.5%.
Express parcel shipment volumes surged 72.5% YoY to 306 Mn shipments during the quarter, while express parcel revenue climbed 45.9% to ₹1,832 Cr. PTL freight tonnage increased 19.9% to 5.49 Lakh metric tonnes, with PTL revenue growing 20% YoY to ₹622 Cr.
For the full fiscal year FY26, Delhivery’s PAT rose 8% YoY to ₹321 Cr in FY26 from ₹162 Cr in FY25. Its revenue from services increased 17% to ₹10,486 Cr from ₹8,932 Cr in FY25.
Delhivery claimed that it crossed the milestone of delivering more than 1 Bn express shipments in FY26, with annual shipment volume growing 40% YoY to 1,054 Mn. PTL tonnage also rose 17.4% YoY to nearly 2 Mn metric tonnes.
The company highlighted that its transport business generated a return on invested capital (ROIC) of 16% in FY26, compared to 5% in FY25, signalling improving capital efficiency and operating leverage.
The company said it has built a pipeline of nearly ₹1,800 Cr worth of annual business opportunities across auto, FMCG, ecommerce, and industrial sectors.
During the quarter, Delhivery continued investing aggressively in AI-led logistics infrastructure and engineering capabilities.
The company said it has deployed AI-based prediction systems across presales, operations, billing, and claims management. It also unveiled its proprietary “Naksha LLM Suite”, which combines seven fine-tuned small language models (SLMs) for logistics workflows involving location intelligence, voice, vision, and transaction data.
On the infrastructure front, Delhivery expanded its warehousing footprint to 22.9 Mn square feet by the end of Q4 FY26, while its delivery network reached 18,830 pin codes across India and over 220 countries and territories globally through partner networks. Active customers increased to 52,226 during the quarter from 44,290 a year ago.
Shares of Delhivery ended Friday’s trading session 1.15% higher at ₹475.7.
Source: Inc42 - Startups
