Delhivery shares plunge 10% after firm posts Rs 50 crore net loss in Q2, JM Financial downgrades stock to 'Add'

Delhivery share price

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

The shares of Delhivery plunged nearly 10 percent to hit the lower circuit on November 6. This comes after the company posted a net loss pf Rs 50.4 crore for the second quarter of the financial year 2026, as against a net profit of Rs 10.2 crore reported in the corresponding quarter of the previous financial year.

Excluding the impact from Ecom Express integration costs, the firm’s profit after tax during the quarter stood at Rs 59 crore in Q2 FY26, as against Rs 10 crore in Q2 FY25, it said.

While the firm slipped into the red with a net loss, its revenue from operations rose around 17 percent year-on-year (YoY) to Rs 2,559.3 crore during the quarter under review.

JM Financial downgrades stock:

JM Financial noted that the lower-than-estimated results were caused by back-ended demand due to delayed purchases in the quarter before the GST cuts took place. "PTL segment also missed revenue estimates with 15.2% YoY growth but management remains confident of delivering c.20% growth for FY26. TL, SCS and Cross-border segments also remained weak. Management noted that service EBITDA guidance for FY26 still remains on track, while one-time integration costs are likely to be significantly lower than earlier anticipated," it said.

While the domestic brokerage remains positive on Delhivery's positioning and expect a strong recovery in Q3, it lowered its estimates to align with the current trajectory, JM Financial said.

Jefferies said that EBITDA was below estimates due to weak Express parcel and part truck load margins. It added that Express Parcel organic volume growth was weak.

Delhivery share price:

Delhivery shares remained locked in the lower circuit at Rs 436.40 apiece. The stock has fallen more than 9 percent in the past five days, but gained nearly 44 percent in the past six months. The stock is up over 25 percent in 2025 so far.

Its P/E ratio currently stands at around 183.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.