Overview
- Delhivery reported a consolidated net loss of Rs 50.49 crore for Q2 FY26 versus a profit a year earlier, driven by a one-time Rs 90 crore charge tied to the Ecom Express acquisition; excluding this, PAT was Rs 59 crore.
- Total income rose to about Rs 2,651 crore with operating revenue up roughly 17% year-on-year to Rs 2,559 crore as expenses increased around 18%.
- Express parcel volumes grew 32% to 246 million and service EBITDA margin stood at 15.3%, while the Part Truck Load business saw 12% tonnage growth with margins improving to 8.5%.
- The company completed network rationalisation at Ecom Express with a net retention of seven facilities and reiterated that full-year integration costs are expected to stay within about Rs 300 crore.
- Management flagged a GST-related timing shift that delayed some festive dispatches into Q3; the stock fell about 9% after results as JM Financial lowered its rating to Add, even as Delhivery expanded Rapid and Direct SME services and launched the Freight Index One data product.