Delhivery Slips Into Red In Q2, Posts INR 51 Cr Loss
- ByStartupStory | November 5, 2025
Delhivery, India’s leading third-party logistics and supply chain services company, reported a net loss of ₹50.38 crore in the second quarter of fiscal year 2026 (Q2 FY26), marking a decline from a profit of ₹10.20 crore in the same period last year. This loss comes despite a 16.9% year-over-year increase in revenue from operations to ₹2,559.3 crore in Q2 FY26, up from ₹2,189.7 crore in Q2 FY25.
The company attributed the loss to integration costs following its recent acquisition of Ecom Express, with integration expenses for the quarter totaling ₹90 crore. Delhivery completed the acquisition of Ecom Express in July 2025, and the integration process is underway, including network rationalization and exit of non-core businesses.
Delhivery experienced strong operational performance, with express parcel shipment volumes rising 32% year-over-year to 246 million orders and part-truckload (PTL) volumes growing 12% to 477,000 metric tonnes. Revenue from the express parcel segment increased 24% year-over-year, while the PTL segment grew revenue by 15%.
The company announced that Vivek Pabari, who currently heads Corporate Finance, Treasury, and Investor Relations, will assume the role of Chief Financial Officer on January 1, 2026, succeeding Amit Agarwal, who is stepping down after a 13-year tenure.
Delhivery remains optimistic about returning to profitability between the second and third quarters post-integration, buoyed by strong volumes during the festive season and ongoing efficiency improvements.
In summary, while Delhivery posted a net loss of ₹51 crore in Q2 FY26 largely due to acquisition integration costs, its healthy revenue growth and operational momentum position it well for a profitable turnaround in upcoming quarters.
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