Logistics company Delhivery announced a net profit of 40.63 crore rupees for the second quarter of fiscal year 27. This figure is significantly different from the loss of 50.49 crore rupees recorded in the same quarter of the previous fiscal year.
The company's revenue increased by 19.8%, reaching 3066.38 crore rupees compared to 2559.3 crore rupees a year earlier. In its statement, Delhivery noted that the company managed to demonstrate strong results despite inflationary pressures.
The volume of express parcels showed a year-on-year growth of 32%, totaling 325 million shipments in the second quarter. The partial truck loading segment also demonstrated a year-over-year growth of 14%.
The company reported that its new ventures are developing faster than initially planned. The Delhivery Local service, which is an on-demand in-city courier and logistics service, is now operational in eight cities and is on track to exceed the initial annual revenue forecast of 250 crore rupees by the fourth quarter of fiscal year 27, as well as improving margins.
Furthermore, the Financial Service division has begun early monetization of its supplier ecosystem and is developing co-lending partnerships to expand financial access for supplier partners using a low capital expenditure approach. Delhivery also noted that early investments in artificial intelligence are beginning to bear fruit, reflected in increased sales productivity, improved customer registration processes, and faster dispute resolution and fraud detection.
Delhivery Robotics' internal automation lab has started manufacturing custom autonomous vehicles for in-site operations. The company has also begun testing robotic systems within rooftop operations in collaboration with global leaders in physical artificial intelligence.
Despite the unstable macroeconomic environment caused by rising fuel prices, labor availability issues, and numerous legislative changes, Delhivery expressed confidence in the upcoming second half of the fiscal year. The company emphasized that the service level of its network reached its best performance before the holiday season, contributing to increased profitability.
