Delhivery reports strong Q2 FY26 growth, profitability

Delhivery Limited reported a substantial increase in revenue from services, reaching approximately ₹2,546 crores for Q2 FY26, marking a 16% year-over-year and 11% quarter-on-quarter growth. This resulted in an EBITDA of ₹150 crores, up from ₹57 crores in the same quarter last year, reflecting a 5.9% EBITDA margin. The company's Express parcel shipments grew by 32.5% year-over-year to 246 million, while Part Truck Load (PTL) tonnage increased by 12% to 477K tons.

The acquisition of Ecom Express was completed on July 18, 2025, with integration costs amounting to approximately ₹90 crores in Q2 FY26, well within the estimated ₹300 crore envelope. The company expects total integration costs to be materially lower than originally forecasted. Profit After Tax (PAT) for the quarter stood at ₹59 crores, representing 2.2% of revenue, a significant improvement from 0.4% in Q2 FY25.

Delhivery also announced the upcoming launch of Delhivery Financial Services Private Limited, aimed at providing financial services to its network of truckers and partners. The company's cash and cash equivalents remained strong at approximately ₹4,200 crores, and net working capital days reached an all-time best, falling under 20 days.