Shares of Delhivery surged more than 9 percent in intra-day trade on Monday, May 19, after the company reported a turnaround in its March quarter (Q4FY25) earnings, with a positive net profit following a string of losses in previous periods. Strong operational efficiency and improving profitability across its core business segments drove the gains.
The logistics major posted a consolidated net profit of ₹72.56 crore in Q4FY25, a sharp improvement from a net loss of ₹68.47 crore in the year-ago period. On a sequential basis, net profit nearly tripled from ₹24.99 crore in Q3FY25, underscoring strong cost discipline and margin expansion.
Revenue from operations for the quarter stood at ₹2,191.57 crore, registering a 5.6 percent year-on-year (YoY) growth, although it fell 7.8 percent quarter-on-quarter (QoQ) from ₹2,378.30 crore. Despite the sequential dip, the profitability metrics showed significant improvement.
EBITDA stood at ₹119 crore, up 160 percent YoY and 16.3 percent QoQ, with EBITDA margin rising to 5.4 percent, a 322 basis point increase YoY and 113 bps QoQ. This margin improvement is being viewed as a key indicator of the company’s strategic focus on operational leverage.
For the full financial year ending March 31, 2025, Delhivery reported a consolidated net profit of ₹162.11 crore, marking a reversal from the loss of ₹249.19 crore in FY24. Annual revenue rose 10 percent to ₹8,932 crore, up from ₹8,142 crore last year.
Commenting on the results, Sahil Barua, Managing Director and CEO of Delhivery, said, “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.”
Shipment Volumes Hold Steady
In terms of volumes, Delhivery shipped 177 million parcels in Q4FY25, up marginally from 176 million in Q4FY24. For the full year FY25, total parcel volumes reached 752 million, rising 2 percent from 740 million in FY24.
The company also recently announced plans to acquire a controlling stake in Ecom Express for ₹1,400 crore, aiming to strengthen its footprint in India’s e-commerce logistics space. Both companies have approached the Competition Commission of India (CCI) for approval.
Stock Price Trend
Delhivery’s stock rallied as much as 9.3 percent to hit ₹350.80, reacting to the positive earnings. The stock, however, remains 24 percent below its 52-week high of ₹461, hit in May 2024. It touched a 52-week low of ₹236.80 in March 2025.
Despite the long-term underperformance — down over 26 percent in the past year — the stock has seen a strong rebound in recent months. It gained 15.5 percent so far in May, extending its rally after a 20 percent jump in April and 2 percent rise in March. The recovery followed steep declines of 22 percent in February and 7.2 percent in January.
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