Delhivery reports Q2 profit as share price climbs
Logistics provider Delhivery posted a net profit of ₹40.6 Cr for the second quarter, reversing a previous year's loss as shipment volumes surged.
Delhivery shares rose nearly 10% following the logistics firm's report of a consolidated net profit of ₹40.6 Cr for the second quarter of FY27. This marks a notable turnaround from the ₹50.5 Cr net loss recorded during the same period in the previous year.
The company’s operating revenue grew by 19.8% to reach ₹3,066.4 Cr, supported by a 32.1% increase in express parcel shipments, totaling 325 million units. Additionally, the part truckload (PTL) segment saw a 14.2% rise in volume. Operating efficiency has been a key factor, with adjusted EBITDA rising by 48% as margins improved to 4%.
Market response was largely positive, with Equirus Securities upgrading the stock to ‘Long’ with a target price of ₹505. Analysts pointed to the firm's market share gains and ongoing investments in automation, including the deployment of autonomous pallet vehicles, as primary drivers for future growth. The firm also continues to expand its local courier services and fintech distribution arm.
Delhivery’s market capitalization currently stands at approximately ₹31,135 Cr, or $3.3 billion. The firm is targeting further growth in its local delivery services, aiming to reach an annual revenue run rate of up to ₹1,000 Cr within the next two years.