Delhivery Reports Net Loss of Rs 50.38 Crore in Q2 FY26, but Revenue Grows 17% Amidst Ecom Express Integration

Delhivery reported a consolidated net loss of Rs 50.38 crore for the second quarter of FY26, a contrast to the Rs 10.20 crore profit recorded in the same period last year. Despite this loss, the company's operational revenue saw a significant increase of 16.9%, reaching Rs 2,559.3 crore, up from Rs 2,189.7 crore in Q2 FY25. This growth was driven by strong performance in its services segment, which generated Rs 2,546 crore, a 16.3% rise year-on-year. The company successfully completed the acquisition of Ecom Express during this quarter, which involved integration costs of Rs 90 crore, with total integration spending expected to remain within Rs 300 crore. Despite adverse conditions like heavy rainfall and holiday disruptions, Delhivery achieved record shipment volumes. Express Parcel deliveries surged by 32% year-on-year, and Part-truckload (PTL) shipments grew 12% annually, leading to improved segment revenue and a better EBITDA margin for the Transportation segment, which increased to 13.5% from 11.9% a year ago. The company anticipates meeting its profitability targets between Q2 and Q3. In leadership news, Vivek Pabari will take over as Chief Financial Officer from Amit Agarwal on January 1, 2026.

Impact This news has a moderate impact on Delhivery's stock, as the net loss may concern investors, but the strong revenue growth and operational improvements, alongside successful acquisition integration, provide a more positive outlook. The leadership transition is also a key point for investor consideration. Rating: 6/10.

Difficult Terms: Consolidated Net Loss: The total loss incurred by a company across all its subsidiaries and operations after accounting for all expenses, interest, and taxes. Operational Revenue: The income generated from the company's primary business activities before deducting any expenses. EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization. A measure of a company's operating performance. Express Parcel: Refers to the rapid delivery of smaller packages. Part-truckload (PTL) Shipments: Freight services where a shipment does not require a full truckload, sharing space with other shipments. EBITDA Margin: EBITDA expressed as a percentage of total revenue, indicating operational efficiency.