Delhivery Q3 results: Profit rises 58% YoY to Rs 39.6 crore, revenue up 18%

Delhivery Q3 results

Logistics major Delhivery on January 31 swung back into the green in the third quarter (Q3) of financial year 2025-26 (FY26), posting a profit of Rs 39.6 crore, compared to a profit of Rs 25 crore in the same period a year ago. The Gurugram-based firm had reported a loss of Rs 50.5 crore in the previous quarter.

It reported an earnings before interest, taxes, depreciation and amortisation (EBITDA) of Rs 147 crore at a 5.3 percent margin in Q3 FY26, representing a growth of 227 percent YoY – highest in company’s history so far, and at par with the whole of FY25.

Delhivery’s revenue from operations rose almost 18 percent year-on-year (YoY) to Rs 2,805 crore in Q3, up from Rs 2,378 crore a year ago. On a sequential basis, revenue grew from Rs 2,559.3 crore in Q2 FY26.

The firm’s total expenses increased 15 YoY percent to Rs 2,820 crore in the quarter ended December, up from Rs 2,450.9 crore a year ago and Rs 2,708.1 crore a quarter ago.

The express parcel business saw a record peak season, with shipments rising 43 percent year-on-year to 295 million in the quarter, driven by market share gains across key clients. Management flagged this as one of the strongest festive periods for the company, aided by higher wallet share from large customers and better utilisation across the network.

Part truckload (PTL) volumes also crossed a key milestone, with throughput exceeding 500,000 metric tonnes for the first time. PTL volumes grew 23 percent year-on-year, even as service quality and delivery precision remained stable despite a sharp increase in network loads—an area that has historically been a margin pressure point for logistics players.

These operating gains translated into a sharp expansion in profitability. Delhivery crossed Rs 1,000 crore in service EBITDA for the first time at a full-year level, underscoring the impact of scale and cost discipline. Service EBITDA margins in the transport business (express and PTL) improved to 16.4 percent in Q3FY26, compared with 12.8 percent a year earlier and 13.5 percent in the September quarter.

Alongside the financial performance, the company also pushed ahead on new initiatives. It expanded its on-demand logistics offering, Delhivery Direct, to Mumbai and Hyderabad, in addition to NCR, Bengaluru and Ahmedabad. It also launched Delhivery International, an economy air-parcel service aimed at making exports more affordable for Indian small and medium enterprises.

On January 30, Delhivery’s shares on BSE closed 2.61 percent higher at Rs 422.50 apiece.