Delhivery Posts Rs 2,931 Cr Revenue in Q1 FY27, Profit Declines 65%

Delhivery Q1 FY27 results show a sharp rise in revenue but a big fall in profit. The logistics company reported a 27.8% year-on-year increase in operating revenue for the June quarter.

Revenue growth continues

Delhivery’s revenue from operations grew to Rs 2,931 crore in Q1 FY27 from Rs 2,294 crore in the same quarter last year. The company earns mainly from logistics services, including warehousing, last-mile delivery, and logistics management systems.

Other income declined 12.3% to Rs 114 crore from Rs 130 crore. Total income rose 25.6% to Rs 3,045 crore from Rs 2,424 crore in Q1 FY26.

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Costs weigh on profit

Freight handling and servicing costs remained the biggest expense at 71.45% of total expenses. The cost jumped 31.4% to Rs 2,152 crore from Rs 1,638 crore in the year-ago quarter.

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Employee benefit expenses rose 21.9% to Rs 429 crore, while depreciation climbed 28.6% to Rs 189 crore. Other expenses rose 33.5% to Rs 207 crore. Total expenses grew 29.4% to Rs 3,012 crore.

Profit falls 65%

Despite strong revenue growth, profit declined 64.8% to Rs 32 crore in Q1 FY27 from Rs 91 crore in Q1 FY26. On a sequential basis, operating revenue rose 2.8% to Rs 2,930.73 crore, while profit fell 55.9% to Rs 31.91 crore.

Market reaction

Delhivery shares closed at Rs 473.30 apiece on Friday. The company’s market capitalisation stood at Rs 35,198 crore.

Business outlook

Delhivery operates a nationwide logistics network covering express parcel, freight, warehousing and supply chain services. The company has been investing in automation and technology to cut delivery costs and improve turnaround time.

Analysts say the rise in freight and employee costs will keep margins under pressure in the near term. A pick-up in ecommerce volumes during the festive season is expected to support revenue growth in the coming quarters.