In Q4FY25, Delhivery turned profitable, posting a net gain of ₹73 crore which is a sharp reversal from the ₹69 crore loss it reported in the same period last year.
By the numbers:
- Sequential growth: Net profit nearly tripled from ₹25 crore in Q3FY25
- Revenue: ₹2,192 crore, up 5.6% YoY
- Full-year FY25 profit: ₹162 crore vs loss of ₹249.2 crore in FY24
- Annual revenue: ₹8,932 crore, up 10% YoY
What’s working: Delhivery’s profitability was driven by strong cost control and operational efficiency, especially in its Partial Truckload (PTL) segment. Better mid-mile utilisation helped expand margins, even as the e-commerce segment remained steady.
Zoom out: the stock is still 24% off its 52-week high but it has staged a comeback as it is up 15.5% in May.
Also in focus: its pending acquisition of eCom Express is expected to strengthen the company’s express parcel business and support long-term scale in logistics.
Why it matters: investors have long viewed Delhivery as an infrastructure proxy for India’s e-commerce boom. With volumes rising and margins improving, now might finally be its moment.
