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Informist, Friday, Aug. 1, 2025

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By Muskan Lodhi

MUMBAI – Delhivery Ltd.'s net profit for the June quarter beat analysts' estimates by a wide margin on the back of strong volume growth in the express parcel segment, significant revenue growth in the part truck load segment, and comparatively low growth in its total expenses.

Delhivery reported a consolidated net profit of INR 910.46 million for the June quarter, up 67.5% on year and 25.5% on quarter. The net profit is sharply higher than the INR 556 million analysts had expected. The company's consolidated revenues were INR 22.94 billion, up 5.6% on year and 4.7% on quarter. However, revenues were lower than the INR 24 billion expected by analysts.

The total expenses of the integrated logistics operator were INR 23.27 billion for the reporting quarter, up 4.7% on year and 3.5% on quarter. The company's freight, handling, and servicing costs increased 3.7% on year to INR 16.38 billion while its depreciation and amortisation expenses jumped 23.5% on year to INR 1.47 billion. The company's employee costs for the reporting quarter rose 6% on year to INR 3.53 billion but the other expense fell 5% on year and over 8% sequentially to INR 1.55 billion.

Delhivery's consolidated earnings before interest, tax, depreciation, and amortisation rose to INR 1.49 billion, up 53% on year from INR 970 million. The company's EBITDA margin for the current quarter jumped 200 bps to 6.5% from 4.5% in the same quarter last year. 

The part truck load segment's EBITDA margin also jumped 750 bps to 10.7% from 3.2% in the year-ago quarter. The company said it made 208 million express parcel shipments in the June quarter, a 14% on-year growth from 183 million. Part truck load freight tonnage for the June quarter rose 15% on year to 458,000 metric tonnes.

The revenue from the express parcel segment rose to INR 14.03 billion, up 10% from the year-ago quarter. The revenue from the part truck load segment grew 17% on year to INR 5.08 billion, but the revenue from its truckload services fell to INR 1.48 billion from INR 1.56 billion in the same quarter last year. The company's revenue from supply chain services was INR 2.05 billion while cross border services generated revenue of INR 240 million, falling 44.2% on year.

The logistics services provider's active customers rose to 43,022 during the June quarter, up 22% on year. The count of the company's express delivery centres rose to 3,607 from 3,567 a year ago and 3,589 in the trailing quarter. Its partner centres grew to 853 from 834 in the year-ago quarter but fell from 905 a quarter ago. The company's total team strength is 65,849, down 3% on year, but up 6.2% on quarter.

The company said it has 20 active Rapid stores in three cities and the run rate was INR 12 million a month. It plans to raise the store count to 40 by the end of 2025-26 (Apr-Mar). The company said it has stopped booking orders at its recent acquisition Ecom and a plan to rationalise the network is underway. It has also retained seven facilities for long-term usage and has initiated the process to exit non-express businesses, the company said.

Friday, shares of Delhivery closed at INR 429.85 on the National Stock Exchange, up over 1%, before the company declared its earnings.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Deepshikha Bhardwaj

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