Logistics major Delhivery posted a 27.8 percent year on year rise in operating revenue for Q1 FY27, reaching Rs 2,931 crore. However, higher freight and operational costs dragged quarterly profit down nearly 65 percent compared to the same period last year.
Financial statements filed with the NSE show operating revenue of Rs 2,931 crore for the quarter ending June 2026, up from Rs 2,294 crore in Q1 FY26. Total income, which includes other income of Rs 114 crore, rose 25.6 percent to Rs 3,045 crore from Rs 2,424 crore. On a sequential basis, operating revenue increased 2.8 percent from Rs 2,850 crore recorded in the preceding quarter.
Rising Freight Costs
Freight handling and servicing costs were the largest expense, making up 71.45 percent of total spending. These costs grew 31.4 percent to Rs 2,152 crore, compared to Rs 1,638 crore in Q1 FY26.
Finance costs stayed flat at Rs 34 crore, and other expenses climbed 33.5 percent to Rs 207 crore. Consequently, total expenses for the quarter increased 29.4 percent to Rs 3,012 crore compared to Rs 2,327 crore in the corresponding period of the previous year.
Profit Details
Due to higher costs, Delhivery reported a 64.8 percent drop in profit to Rs 32 crore in Q1 FY27, down from Rs 91 crore in Q1 FY26. On a quarter on quarter basis, profit fell 55.9 percent from Rs 72.40 crore in the previous quarter.
"We continue to focus on expanding our operational footprint across warehousing and last mile delivery networks, while navigating cost pressures inherent in the logistics sector," a company spokesperson stated regarding the financial performance during the earnings disclosure.
Market Valuation
Company shares closed at Rs 473.30 apiece on the stock exchange, bringing the total market capitalisation to Rs 35,198 crore. Market analysts are closely watching how the firm manages its cost inflation while maintaining volume growth across its core segments of warehousing, last mile delivery, and technology deployment for logistics management systems.
Delhivery provides supply chain solutions across India, offering express parcel delivery, part truckload freight, full truckload freight, cross border services, supply chain software, and warehousing services to a diverse range of commercial clients.
Delhivery Q1 FY27 results show strong revenue growth but heavy cost pressures. While freight and operational expenses cut profits sharply, the company continues to invest in expanding its logistics network. With a large market capitalization and strong demand across core segments, ability to balance growth with cost control will be key as it prepares for future expansion.
