Delhivery Posts Q2 Profit as Revenue Grows 20%

Revenue from operations reached Rs 3,066.38 crore; Net profit stands at Rs 40.64 crore.

Reader Takeaway: Delhivery achieved a significant earnings turnaround, though successful scaling of its new fintech venture remains critical.

What just happened

Delhivery Ltd has released its financial results for the quarter and half-year ended September 30, 2026. The company reported a net profit of Rs 40.64 crore compared to a loss of Rs 50.49 crore in the corresponding quarter last year. Revenue grew by 19.8% to Rs 3,066.38 crore. The company's auditors, Deloitte Haskins & Sells LLP, have issued an unmodified review report for these results.

Why this matters

This shift to profitability highlights the company's ability to scale operations while controlling costs. The 20% top-line growth indicates sustained demand for its logistics infrastructure. Furthermore, the board has approved a strategic investment of up to Rs 36 crore in its wholly-owned subsidiary, Delhivery Fintech Distribution Private Limited, to fund its operational requirements.

Strategic Focus

The fintech subsidiary, incorporated in June 2026, is tasked with distributing insurance, payment solutions like FASTags and fuel cards, and telematics to the logistics ecosystem, specifically targeting truckers and MSMEs. By leveraging its existing logistics network, Delhivery aims to capture additional value through this new vertical.

Risks to watch

Investors should monitor the execution risk associated with the fintech subsidiary, as it is a nascent entity. While current labor costs are stable, the company is also keeping a close watch on potential future changes to the government's Labour Codes, which may impact employee benefit expenditures.

What to track next

The market will likely focus on whether the company can maintain this current momentum in net profitability across subsequent quarters and how quickly the fintech business can contribute to the overall bottom line.