Delhivery Q1 FY27 slides: volumes surge 55% as margins compress
Delhivery reported its Q1 FY27 earnings on August 8, 2026, revealing a 55.2% surge in express parcel shipments to 322 million packages, despite a decline in profitability due to higher labor and fuel costs, as well as Ecom Express integration expenses. The company's stock rose 2.09% to $473.30 following the earnings call, trading near the upper range of its 52-week price band.
While revenue from services increased 27.8% year-over-year to ₹2,931 crores and 2.9% sequentially, the 5.3% EBITDA margin marked a decline from previous quarters. Management attributed the strong performance to growth in e-commerce, D2C, and SME segments, as well as improvements in the PTL freight business. However, other segments like Supply Chain Services and New Initiatives faced challenges.
The company's investment in infrastructure and operational capacity is expected to position it for future growth in India's logistics sector, despite current cost pressures.
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