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Revenue from operations increased 16.87% year on year to Rs 2,559.32 crore in Q2 FY26.
During the quarter, the company reported a loss before tax of Rs 53.22 crore, compared to a profit before tax of Rs 53.21 crore in the same quarter last year.
EBITDA stood at Rs 68 crore in Q2 FY26, up 19.29% compared with Rs 57 crore in Q2 FY25. EBITDA margin fell to 2.6% in Q2 FY26 as against 2.7% in Q2 FY25.
In Q2 FY26, Express Parcel reported shipment volumes of 246 million, reflecting a 32% YoY increase from 185 million in Q2 FY25. This growth was driven by the Ecom acquisition, which consolidated Delhivery’s share of wallet with key clients, along with strong organic growth and robust festive demand. Revenue for the quarter rose 24% YoY to Rs 1,611 crore from Rs 1,298 crore in Q2 FY25, while service EBITDA margin improved slightly to 15.3% from 15.1% in the same quarter last year. The company expects the positive momentum to continue into Q3 FY26.
In Q2 FY26, the Part Truck Load business recorded tonnage of 477,000 MT, marking a 12% YoY increase from 427,000 MT in Q2 FY25. Revenue grew 15% YoY to Rs 546 crore from Rs 474 crore in the same quarter last year, while service EBITDA margin improved significantly to 8.5% from 2.9% in Q2 FY25, reflecting operational leverage and efficiency gains.
In Q2 FY26, the company’s other businesses delivered mixed performance. Supply Chain Services reported revenue of Rs 170 crore, down from Rs 197 crore in Q2 FY25. Truckload revenue stood at Rs 150 crore, compared with Rs 158 crore in the same quarter last year. Cross Border Services generated revenue of Rs 38 crore, down from Rs 59 crore in Q2 FY25.
Delhivery, India’s largest fully integrated logistics service provider, announced that Vivek Pabari, head of Corporate Finance, Treasury, and Investor Relations, will take over as Chief Financial Officer from Amit Agarwal, effective January 1, 2026. Amit Agarwal, who has served the company for 13 years, resigned for personal reasons and will remain in his role until 31 December 2025. Joining Delhivery in August 2012 as a Vice President in the operations team, Agarwal held several roles before becoming CFO in December 2018 and played a key role in the company’s public listing and major acquisitions, including SpotOn and Ecom Express.
Commenting on his departure, Delhivery CEO Sahil Barua said, “Amit has been a foundational member of Delhivery and has played an invaluable part in the company’s journey. On behalf of the founders and the Board, we extend our deepest gratitude and wish him the very best for the future.” Agarwal expressed his thanks to the company, saying, “It has been a privilege to be part of the company’s journey from its earliest days.” Vivek Pabari, who joined Delhivery in June 2021 and was a key member of the team that took the company public, was earlier an investment banker at Deutsche Bank and holds a PGDM in Finance from IIM Bangalore and a B.Tech in Information & Communication Technology.
Barua added, “Vivek understands our business and operations in detail and is a thoughtful and mature leader who commands respect across the management team, Board, and investor community. We are confident he will lead the company successfully for several years ahead.”
Meanwhile, Delhivery proposes to incorporate a wholly owned subsidiary, Delhivery Financial Services (or such other name as may be approved), in India, with an initial investment of up to Rs 12 crore. The subsidiary will operate in the financial services sector, providing credit, payment solutions, FASTag aggregation, fuel cards, and insurance services to Delhivery’s partners, including truckers, fleet owners, riders, and MSMEs, thereby supporting the logistics network, improving operational efficiency, and enhancing liquidity access. As the entity is yet to be incorporated, turnover is not applicable, and 100% of the share capital will be subscribed by Delhivery and its nominee. Incorporation will be completed subject to approvals from relevant authorities, including the Registrar of Companies, and will be treated as a related party once established.
Delhivery is India's largest fully-integrated logistics services provider. With its nationwide network covering over 18,850 pin codes, the company provides a wide range of logistics services such as express parcel transportation, PTL freight, TL freight, cross-border, supply chain, and technology services.