Delhivery Q1 FY27: Revenue rises to Rs 2,931 crore as profit drops 65%

Delhivery reported a 27.8% year-on-year increase in revenue from operations to Rs 2,931 crore in Q1 FY27, up from Rs 2,294 crore in Q1 FY26, according to financial statements filed with the National Stock Exchange.

The company earns primarily from logistics services, including warehousing, last-mile delivery, and the design and deployment of logistics management systems. Total income rose 25.6% to Rs 3,045 crore, even as other income declined 12.3% to Rs 114 crore.

Delhivery’s profit fell 64.8% to Rs 32 crore in Q1 FY27 from Rs 91 crore in the year-ago quarter, despite the strong revenue growth.

Freight handling and servicing remained the company’s largest expense, accounting for 71.45% of total expenses. This cost increased 31.4% to Rs 2,152 crore, while total expenses rose 29.4% to Rs 3,012 crore.

Employee benefit expenses increased 21.9% to Rs 429 crore from Rs 352 crore, while depreciation rose 28.6% to Rs 189 crore from Rs 147 crore.

Finance costs remained flat at Rs 34 crore. Other expenses climbed 33.5% to Rs 207 crore from Rs 155 crore, adding to the pressure on profitability.

On a sequential basis, Delhivery’s operating revenue increased 2.8% to Rs 2,930.73 crore in Q1 FY27 from Rs 2,850 crore in the preceding quarter.

Profit declined 55.9% sequentially to Rs 31.91 crore from Rs 72.40 crore. Delhivery’s shares closed at Rs 473.30 apiece on Friday, taking the company’s market capitalisation to Rs 35,198 crore.