Delhivery reported a 16.3% YoY increase in revenue, reaching ₹2,546 Cr in Q2 FY26. Express parcel shipments grew by 32% YoY to 246 million. PTL volumes increased by 12% YoY to 477K MT. The company anticipates meeting overall peak period profitability expectations between Q2 and Q3. Integration-related costs for Ecom Express stood at ₹90 Cr in Q2 FY26.
Q2 FY26 Financial Performance
Delhivery announced a 16.3% year-over-year (YoY) increase in revenue for Q2 FY26, with revenue from services reaching ₹2,546 Cr. The company’s EBITDA stood at ₹150 Cr, and PAT was ₹59 Cr, excluding the impact of the Ecom Express acquisition. Including Ecom Express, total income reached ₹2,638 Cr.
Volume Growth
Express Parcel shipment volumes experienced substantial growth, reaching 246 million orders in Q2 FY26, a 32% YoY increase and an 18% QoQ increase. PTL volumes also increased, growing 12% YoY to 477K MT. Revenue growth for PTL was 15% YoY due to yield improvement.
Operational Milestones
The company achieved record monthly order volumes of over 100 million e-commerce and freight shipments in both September and October. They also hit a record single-day dispatch volume of 7.2 million orders.
Ecom Express Integration
Delhivery formally completed the acquisition of Ecom Express in July 2025. Integration-related costs for the quarter were ₹90 Cr and are expected to remain within the original estimate of ₹300 Cr for the integration process.
Margins and Outlook
Service EBITDA margin for Transportation (Express + PTL) stood at 13.5% in Q2 FY26. The company expects Express Parcel Service EBITDA margins to return to 16-18% levels by the end of FY26.
New Services
The Delhivery Direct on-demand intra-city service has reached an annual revenue run-rate of approximately ₹28 Cr in Q2 FY26. Rapid commerce is expected to contribute revenues of ₹80-100 Cr in the near to mid-term, with a current annual revenue run-rate of around ₹12 Cr.
Source: BSE
