Delhivery reported strong revenue growth in the fourth quarter of FY26, but its profit remained almost unchanged due to rising costs and investments.

Key Highlights of Q4 FY26

• Revenue increased by 30% year-on-year to around ₹2,850 crore.
• Net profit stayed nearly flat at about ₹72 crore.
• The company saw strong growth in shipment volumes during the quarter.
• Express parcel shipments increased by 72% to 306 million shipments.
• Part-truckload (PTL) freight volumes grew by 20%.

Operational Performance

• EBITDA (operating profit) rose nearly 80% to more than ₹214 crore.
• EBITDA margin improved from 5.4% to 7.5%.
• Better operational efficiency and higher volumes supported margin growth.
• Technology-based optimisation also helped improve performance.

Reasons Profit Remained Flat

• Higher operating expenses impacted overall earnings.
• Investments in network expansion and technology increased costs.
• Integration and infrastructure spending also affected profitability.

Business Expansion

• Delhivery expanded its international parcel services to countries like:
  • UK
  • Canada
  • Australia
• The company introduced AI-powered logistics and customer support solutions.
• Annual service revenue crossed ₹10,000 crore in FY26.

Conclusion

Delhivery’s Q4 FY26 results show strong business growth and improving operational performance. However, rising costs and continued investments kept profits stable. The company remains focused on expanding its logistics network and improving technology capabilities for long-term growth.