Delhivery Limited, one of India’s leading logistics and supply chain management companies, announced its Q1 FY26 results on 1st August 2025. The company delivered an impressive profit growth of 67.49% year-on-year (YoY) with a profit after tax (PAT) of ₹91.05 crore, while revenue from operations stood at ₹2,294 crore, marking a 5.60% YoY increase.
This performance highlights Delhivery’s operational efficiency, strategic cost management, and growth in core logistics services. While revenue growth was modest, the strong surge in profits reflects improving margins and optimized delivery operations.
In this article, we present a detailed 2000-word analysis of Delhivery’s Q1 FY26 results, including financial highlights, YoY comparisons, share price performance, and a long-term investment perspective.
Delhivery Q1 FY26: Consolidated Financial Highlights
The consolidated performance captures the overall revenue and profitability of the company, including its warehousing and supply chain operations.
| Particulars (₹ in crores) | Q1 FY26 (30-06-2025) | Q1 FY25 (30-06-2024) |
|---|---|---|
| Revenue from Operations | ₹2,294.00 | ₹2,172.30 |
| Profit Before Tax (PBT) | ₹278.72 | ₹206.98 |
| Profit After Tax (PAT) | ₹91.05 | ₹54.36 |
Consolidated Performance Insights
- Revenue Growth: Revenue increased by 5.60% YoY, reflecting a steady rise in parcel volumes and growth in e-commerce demand.
- Profit Growth: PAT grew by 67.49% YoY, signaling significant efficiency improvements.
- Margins: Improved profit margins were primarily driven by cost optimization in last-mile delivery and better fleet utilization.
Delhivery Q1 FY26: Standalone Financial Highlights
Standalone results represent the core logistics business without contributions from subsidiaries.
| Particulars (₹ in crores) | Q1 FY26 (30-06-2025) | Q1 FY25 (30-06-2024) |
|---|---|---|
| Revenue from Operations | ₹2,127.94 | ₹2,006.16 |
| Profit Before Tax (PBT) | ₹291.90 | ₹220.71 |
| Profit After Tax (PAT) | ₹113.96 | ₹71.98 |
Standalone Performance Insights
- Revenue Growth: Revenue increased by 6.07% YoY, reflecting an expansion in express parcel services.
- Profit Growth: PAT rose by 58.32% YoY, indicating strong operational performance in the core business.
- Improved Efficiency: Increased automation in warehouses and better utilization of delivery fleets contributed to profit growth.
Year-on-Year Comparative Analysis
The following table provides a quick YoY comparison of Delhivery’s performance:
| Metric | Consolidated YoY Change | Standalone YoY Change |
|---|---|---|
| Revenue Growth | 5.60% | 6.07% |
| PAT Growth | 67.49% | 58.32% |
| PBT Growth | 34.67% | 32.27% |
Analysis:
- Profit growth far outpaces revenue growth, indicating operational efficiency.
- Standalone operations remain the backbone of profitability, while consolidated results benefit from additional service segments.
Delhivery Share Price Performance
The market responded positively to Delhivery’s strong Q1 results.
| Date | Price per Share (₹) |
|---|---|
| 4th August 2025 Opening | ₹448.60 |
| 4th August 2025 Current | ₹452.95 |
Key Observations:
- Delhivery’s share price rose slightly above the opening price, showing investor confidence.
- 1-Year Return: 11.64%
- 5-Year Return: 8.69%
- All-Time Return: 13.20%
While returns have been moderate, the recent profitability trend may improve long-term investor sentiment.
Investor Insights and Future Outlook
- Profitability vs. Revenue Growth:
- The PAT surge of 67.49% versus a 5.60% revenue increase signals operational leverage.
- Future growth may depend on scaling volumes without proportionate cost increases.
- Standalone vs. Consolidated Performance:
- Standalone business remains profit engine, while consolidated gains are from warehousing and supply chain services.
- Stock Market Perspective:
- Delhivery shares have shown steady but moderate returns.
- With increasing profit margins and cost efficiency, the stock may attract long-term investors.
- Key Risks to Monitor:
- Fuel Price Volatility: Directly impacts delivery costs.
- Competition: Logistics is highly competitive with new entrants and established players.
- Economic Cycles: E-commerce and freight volumes are sensitive to economic trends.
Delhivery Q1 FY26 Summary Table
| Key Metric | Q1 FY26 | Q1 FY25 | YoY Change |
|---|---|---|---|
| Consolidated Revenue (₹ Cr) | 2,294.00 | 2,172.30 | +5.60% |
| Consolidated PAT (₹ Cr) | 91.05 | 54.36 | +67.49% |
| Standalone Revenue (₹ Cr) | 2,127.94 | 2,006.16 | +6.07% |
| Standalone PAT (₹ Cr) | 113.96 | 71.98 | +58.32% |
| Current Share Price (₹) | 452.95 | – | – |
Conclusion
Delhivery’s Q1 FY26 results reflect a strong start to the financial year. With profit growth significantly outpacing revenue growth, the company is demonstrating improved operational efficiency and profitability.
For long-term investors, Delhivery’s consistent cost optimization, growing e-commerce volumes, and steady expansion in warehousing services make it a potentially rewarding stock in India’s logistics sector.
However, market volatility, competition, and economic cycles remain key factors to monitor. Investors are advised to conduct thorough research before making investment decisions.
Disclaimer: Investment in the stock market is subject to risk. This article is for informational purposes only. Conduct your own research before investing.
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