Delhivery Slips Into Red In Q2, Posts INR 51 Cr Loss

Logistics major Delhivery slipped into red in Q2 FY26, reporting a net loss of INR 50.5 Cr compared to a profit of INR 10.2 Cr in the year-ago quarter, as the integration of Ecom Express impacted the bottom line. The company had reported a profit of INR 91.1 Cr in preceding Q1 FY26.

Operating revenue grew 17% YoY and 12% QoQ to INR 2,559.3 Cr.

Including other income of INR 92.2 Cr, the company’s total income for the quarter stood at INR 2,651.5 Cr. Total expenses zoomed 18% YoY to INR 2,708.1 Cr.

Delhivery said that it incurred a cost of INR 90 Cr pertaining to integration of Ecom Express. It completed the acquisition of Ecom Express on July 18 and expects to bear a total cost of INR 300 Cr for the integration.

“Volume manifestation at Ecom ceased during Q1 FY26 and exit of non-express businesses is underway, with the revenue transition largely completed in Q2 FY26,” it noted. Delhivery retained only seven of Ecom Express’ facilities for long-term use while few facilities remain unabsorbed for eventual exit.

Excluding Ecom Express, Delhivery claimed that its profit for the quarter under review stood at INR 59 Cr, representing a multifold jump from INR 10 Cr in the year-ago period.

Its operating revenue excluding Ecom Express increased 16% YoY to INR 2,546 Cr.

(The story will be updated soon)

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