Delhivery Q2 FY27 Results: Consolidated Net Profit ₹40.64 Crore on Total Income of ₹3,133 Crore
Earnings
Logistics services
Blacklitt Research3 min read
Photo by Rohit Choudhari on Unsplash (Unsplash License). Illustrative image.
Delhivery (NSE: DELHIVERY) said in a filing on 30 Oct 2026 that consolidated total income for the quarter ended 30 Sep 2026 was ₹3,133.01 crore and consolidated net profit was ₹40.64 crore. Standalone total income for the same quarter was ₹2,926.03 crore and standalone net profit was ₹66.67 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹3,133.01 crore, up 18.2% YoY and 2.9% QoQ
Net profit and EPS: ₹40.64 crore against a loss of ₹50.49 crore a year earlier; basic EPS ₹0.54
Finance costs: ₹34.02 crore, down 12.5% YoY
Standalone
The company on its own, without its subsidiaries
Total income: ₹2,926.03 crore, up 17.3% YoY and 2.8% QoQ
Net profit and EPS: ₹66.67 crore, up 14.2% YoY and down 14.7% QoQ; basic EPS ₹0.89
Other income: ₹61.04 crore, down 36.9% YoY
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
3,133.01
2,651.54
+18.2%
3,044.84
+2.9%
Revenue from operations
3,066.38
2,559.32
+19.8%
2,930.73
+4.6%
Other income
66.63
92.22
-27.8%
114.11
-41.6%
40.64
-50.49
n/a
31.91
+27.4%
Profit before tax
38.99
-53.22
n/a
30.25
+28.9%
Finance costs
34.02
38.86
-12.5%
33.79
+0.7%
Depreciation
197.49
178.11
+10.9%
189.24
+4.4%
Tax expense
-1.65
-2.73
+39.7%
-1.66
+0.8%
Net profit margin
1.30%
-1.90%
+3.20 pp
1.05%
+0.25 pp
EPS, basic (₹)
0.54
-0.68
n/a
0.43
+25.6%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit was ₹40.64 crore, against a loss of ₹50.49 crore in the quarter ended 30 Sep 2025, while total income rose 18.2%. Against the quarter ended 30 Jun 2026, net profit rose 27.4% and total income rose 2.9%, so profit grew faster than income in the latest quarter.
Consolidated revenue from operations rose 19.8% year on year, while other income fell 27.8%. Other income was ₹66.63 crore, against ₹92.22 crore a year earlier and ₹114.11 crore in the quarter ended 30 Jun 2026.
Finance costs were ₹34.02 crore, down 12.5% from ₹38.86 crore a year earlier, while depreciation rose 10.9% to ₹197.49 crore. The consolidated statement shows a tax credit of ₹1.65 crore for the quarter.
The consolidated purchase consideration for Ecom Express Limited was approximately ₹1,369.64 crore for 99.87% of its share capital; Ecom became a subsidiary from 18 Jul 2025 and a wholly owned subsidiary from December 2025. The company says the acquisition aims to enhance its scale and strengthen its value proposition to clients. The consolidated results include a share of loss of ₹4.00 crore from the associate Falcon Autotech Private Limited for the half year ended 30 Sep 2026.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,926.03
2,494.52
+17.3%
2,846.17
+2.8%
Revenue from operations
2,864.98
2,397.76
+19.5%
2,729.67
+5.0%
Other income
61.04
96.77
-36.9%
116.50
-47.6%
66.67
58.40
+14.2%
78.20
-14.7%
Profit before tax
66.67
57.01
+16.9%
78.20
-14.7%
Finance costs
33.10
34.65
-4.5%
32.20
+2.8%
Depreciation
190.58
160.23
+18.9%
181.24
+5.2%
Tax expense
0.00
-1.39
n/a
0.00
n/a
Net profit margin
2.28%
2.34%
-0.06 pp
2.75%
-0.47 pp
EPS, basic (₹)
0.89
0.78
+14.1%
1.04
-14.4%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 14.2% year on year, slower than total income, which rose 17.3%. Against the quarter ended 30 Jun 2026, net profit fell 14.7% while total income rose 2.8%.
Standalone revenue from operations rose 19.5% year on year, while other income fell 36.9%. Standalone other income was ₹61.04 crore, against ₹96.77 crore a year earlier.
The standalone statement shows a deferred tax credit of ₹1.39 crore for the quarter ended 30 Sep 2025.
The standalone results present the increase in gratuity and leave liability as 'Impact of Labour Codes' under exceptional items for the year ended 31 Mar 2026, and the company describes it as an event of non-recurring nature.
Inference
The Board approved an investment of up to ₹36 crore in Delhivery Fintech Distribution Private Limited, a wholly owned subsidiary incorporated on 2 Jun 2026, in one or more tranches. The subsidiary's paid-up share capital is ₹15 crore, the investment is cash consideration, and the company says its 100% shareholding will stay the same.
The scheme of amalgamation with Spoton Logistics Private Limited and Spoton Supply Chain Solutions Private Limited took effect on 1 May 2026, with an appointed date of 1 Apr 2025; the company says the results reflect the merger from 1 Apr 2025. The company also says the Labour Codes provisions currently in force do not have a material impact on its results.
Neither the reason for the fall in other income nor the reason for the move from a loss to a profit in consolidated net profit is given.
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