Delhivery Surprises With ₹72 Crore Q4 Profit: Delhivery, one of India’s leading logistics and supply chain services providers, surprised analysts and investors alike by posting a ₹72.6 crore profit in the fourth quarter (Q4) of fiscal year 2025. This turnaround comes in stark contrast to the same period last year, when the company reported a net loss of ₹68.5 crore. The performance marks a milestone in Delhivery’s journey, signaling sustained profitability despite modest revenue growth.
This result is also significant because it caps the company’s first full year of profitability since its inception, with a net income of ₹162 crore for FY25, compared to a loss of ₹249 crore in FY24. The development has been widely interpreted as a positive signal for the broader Indian logistics sector, which is undergoing digital and structural transformation.
Delhivery Surprises With ₹72 Crore Q4 Profit
| Feature | Details |
|---|---|
| Q4 FY25 Net Profit | ₹72.6 crore (vs. ₹68.5 crore net loss YoY) |
| Full-Year FY25 Net Profit | ₹162 crore |
| Q4 FY25 Revenue | ₹2,192 crore (up 5.6% YoY) |
| EBITDA Margin | 5.4% (up from 2.2% YoY) |
| Top Performing Segment | Part Truck Load (PTL): +24% revenue YoY |
| Strategic Move | Acquisition of Ecom Express (up to ₹1,407 crore) |
| Market Cap | ₹23,957 crore |
| Official Source | Delhivery Investor Relations |
Delhivery’s surprise Q4 profit of ₹72 crore and first-ever full-year profitability demonstrate that the company is evolving from a growth-focused startup into a mature, profit-generating logistics powerhouse. Even with modest revenue gains, its margin expansion, tech-driven efficiencies, and strategic acquisitions have laid the groundwork for long-term growth.
As India’s logistics sector continues to modernize, Delhivery appears well-positioned to lead the charge, offering value not just to investors, but to businesses and consumers across the country.
What Led to Delhivery Surprises With ₹72 Crore Q4 Profit?
Focus on Operational Efficiency
Delhivery attributed its strong Q4 performance to operational improvements and cost discipline. The company doubled down on efficiency across delivery networks, warehouse operations, and route optimization algorithms. These changes helped lift EBITDA to ₹119 crore, with an improved EBITDA margin of 5.4% compared to 2.2% in the same quarter last year.
Resilience Amid Modest Revenue Growth
While revenue grew just 5.6% year-on-year to ₹2,192 crore, this slow pace was still better than market expectations in a sluggish demand environment. Analysts had anticipated 10–12% growth, but Delhivery’s ability to generate profit despite the gap reflects its internal cost control and margin-focused strategy.
Deep Dive Into Segment Performance
Express Parcel Services
This is Delhivery’s core business, contributing a majority share of revenue. In Q4 FY25:
- Revenue rose 3% YoY to ₹1,256 crore
- Parcel volumes grew marginally by 1% to 177 million shipments
Despite low volume growth, profitability remained stable due to better route density and automation.
Part Truck Load (PTL) Services
The PTL segment emerged as a standout performer, with:
- 24% YoY revenue growth to ₹517 crore
- 19% growth in volumes
- EBITDA margin in PTL soared to 10.8% from 2.2% YoY
Supply Chain Services
This segment, tied closely to warehousing and B2B logistics, saw a slight decline:
- Revenue fell 2.14% YoY to ₹229 crore
However, the company is bullish on this segment as manufacturing and retail demand stabilize post-pandemic.
Truckload and Cross-Border
- Truckload Services: Revenue declined 13.2% YoY to ₹151 crore, largely due to weak bulk cargo demand.
- Cross-Border Services: Revenue increased 9.7% YoY to ₹34 crore, driven by exports from SMEs and e-commerce sellers.
Strategic Moves Powering Growth
Ecom Express Acquisition
Delhivery is in the process of acquiring Ecom Express, a competing logistics provider, in a deal valued up to ₹1,407 crore. The acquisition is expected to:
- Expand Delhivery’s reach in tier-2 and tier-3 cities
- Provide synergies in fleet management and last-mile delivery
- Boost economies of scale in warehousing and data analytics
This move reflects Delhivery’s ambition to consolidate its leadership in the rapidly evolving Indian logistics ecosystem.
Automation and Tech Integration
The company continues to invest in:
- AI-based route planning
- Automated sorting hubs
- Digital freight brokerage platforms
These advancements not only reduce costs but also improve delivery speed and accuracy, critical to e-commerce and B2B clients.
CEO Commentary and Market Outlook
Sahil Barua, Managing Director and CEO of Delhivery, stated:
“We continue to deliver steady performance in our core transportation businesses. Our ongoing measures to improve profitability are visible in Q4 numbers, and we expect continued momentum on this front as growth picks up in FY26.”
Barua also hinted at upcoming initiatives in green logistics, cross-border trade expansion, and industry-specific fulfillment services.
Market Response and Shareholder Sentiment
Following the Q4 results, Delhivery’s shares closed slightly higher at ₹322 on May 16, 2025. The company’s market capitalization now stands at around ₹23,957 crore, reflecting growing investor confidence.
Analysts from Motilal Oswal, HDFC Securities, and JM Financial noted:
- “Delhivery’s path to sustained profitability is now clearly visible.”
- “Strong PTL and cost discipline are core strengths.”
- “The Ecom Express merger will be a long-term game changer.”
FAQs On Delhivery Surprises With ₹72 Crore Q4 Profit:
Is this Delhivery’s first profitable year?
Yes. FY25 marks Delhivery’s first full year of profitability, with a net income of ₹162 crore.
What caused the turnaround in Q4?
Key drivers include improved cost efficiency, a high-margin PTL segment, and automation across operations.
Why is revenue growth still modest?
The logistics sector faced demand-side headwinds, particularly in bulk freight and warehousing. But Delhivery maintained margins through internal efficiencies.
What is the status of the Ecom Express deal?
It’s in progress and pending regulatory approval. Once complete, it will enhance reach and operational scale.
What should investors watch for in FY26?
- Revenue acceleration post Ecom Express acquisition
- Growth in express parcels and warehousing
- Introduction of new tech-enabled logistics platforms
