Delhivery reported a strong operational quarter in Q3 FY26, with revenue growth and tighter cost control driving a sharp rise in profitability. The logistics major posted a 59% year-on-year jump in profit to ₹40 crore, marking its second consecutive profitable quarter.
According to its unaudited financial results filed with the National Stock Exchange, Delhivery’s revenue from operations grew 18% to ₹2,805 crore in the December quarter, up from ₹2,378 crore in Q3 FY25. Including non-operating income of ₹77 crore, the company’s total revenue stood at ₹2,882 crore during the period.
Delhivery’s core logistics services spanning warehousing, freight forwarding, last mile delivery, and logistics management systems continued to remain the primary revenue drivers. The company has been steadily optimising its network, focusing on higher yielding volumes and improving asset utilisation.
On the cost side, freight handling and servicing expenses remained the largest component, accounting for nearly 70% of total expenditure. This cost rose a relatively modest 7.4% year-on-year to ₹1,980 crore, indicating operating leverage as volumes scaled. Employee benefit expenses declined 4% to ₹410 crore, reflecting rationalisation efforts, while depreciation and amortisation stood at ₹187 crore. Legal, finance, and other overheads rose marginally by 4% to ₹243 crore.
The combination of double digit revenue growth and disciplined cost management helped Delhivery lift its quarterly profit to ₹40 crore, compared with ₹25 crore a year earlier. Notably, the company had reported a loss of ₹50 crore in the preceding quarter, underscoring the sharp sequential improvement.
For the nine months ended December 2025, Delhivery reported revenue of ₹7,658 crore, up over 13% year-on-year, while cumulative profit stood at ₹88 crore, reinforcing the company’s shift toward sustained profitability.
Separately, Delhivery disclosed the grant of 70,900 employee stock options, valued at approximately ₹3 crore based on prevailing market prices, under its ESOP programme.
At the close of the latest trading session, Delhivery’s shares were trading at ₹426.35, valuing the company at around ₹31,900 crore ($3.5 billion).
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