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Logistics major Delhivery Ltd slipped into the red in the September quarter of FY26, even as its revenue rose 17% year-on-year, driven by steady growth in its core logistics operations.
According to financial results filed with the National Stock Exchange (NSE), Delhivery’s revenue from operations climbed to ₹2,559 crore in the second quarter of FY26, up from ₹2,190 crore in the same period last year. Including non-operating income of ₹92 crore, the company’s total revenue stood at ₹2,651 crore for the quarter.
However, rising costs eroded profitability. The company reported a net loss of ₹50 crore in Q2 FY26, compared to a profit of ₹10 crore a year ago. For the first half of the fiscal year, Delhivery’s profit fell 37% to ₹40.5 crore, down from ₹64.5 crore in H1 FY25.
Freight handling and servicing accounted for the largest portion of expenses, forming 68% of total costs, which rose 12.5% year-on-year to ₹1,843 crore. Employee benefit expenses fell 22% to ₹425 crore, but higher legal, depreciation, and other overhead costs pushed total expenditure up 18% to ₹2,708 crore, against ₹2,294 crore in the year-ago quarter.
Delhivery’s core business segments include warehousing, last-mile delivery, and logistics management solutions.
