Delhivery Ltd, India’s leading logistics and supply chain services company, has reported a net profit of Rs 73 crore for Q4 FY25, marking a major milestone in its path to profitability. This performance comes after several quarters of losses, and has sparked strong investor optimism, sending the stock surging in early trade.
With improved operational efficiency, cost control, and volume growth across its logistics network, the company has showcased its ability to transition from scale-building to sustained profitability.
Key Highlights – Q4 FY25 (Jan–Mar 2025)
Net Profit: Rs 73 crore vs. Rs-159 crore loss in Q4 FY24
Revenue from Operations: Rs 2,076 crore, up ~12% YoY
Adjusted EBITDA: Rs 120 crore with margins improving significantly
Operating Cash Flow: Positive for second consecutive quarter
Stock Reaction: Shares jumped over 8% post-results
What Drove the Profit Surge?
1. Operational Leverage
Delhivery scaled its network capacity and improved utilization of its automated sort centers and linehaul routes. Higher shipment volumes — particularly in PTL (Partial Truckload) and Express Parcel segments — resulted in lower unit costs.
2. Cost Discipline
The company continued its focus on controlling fixed overheads, improving route efficiency, and optimizing last-mile delivery costs through automation and tech integration.
3. Improved Service Mix
Revenue contribution from B2B express, warehousing, and PTL freight services grew faster than the B2C e-commerce vertical, improving margins. The diversification away from low-margin segments was key to the turnaround.
Segment-Wise Performance
Express Parcel and PTL Freight
Supply Chain Services (SCS) & Warehousing
Higher warehousing throughput, better occupancy rates.
3PL services gained traction from FMCG and auto clients.
Cross-border & International
Stock Market Response
Post the earnings announcement, Delhivery shares surged by over 8% intraday, hitting multi-month highs. The sharp reaction underscores investor confidence in the company’s pivot to profitability.
Brokerages are reviewing their targets, with early signs of re-ratings underway.
“Delhivery has turned a key corner. Profitability combined with revenue growth in core logistics verticals makes it an exciting long-term play,” said a domestic brokerage analyst.
Outlook: What’s Ahead for Delhivery?
The management emphasized a focus on:
Sustained profitability in FY26
Expansion of PTL hubs and warehousing footprint
AI-driven network optimization and route planning
Selective capex with focus on ROI-positive automation
Delhivery is expected to benefit from India’s rising e-commerce penetration, improved SME adoption of tech logistics, and a broader shift to organized B2B supply chains.
Final Thoughts
Delhivery’s Q4 FY25 results signal more than just a one-off profit — they reflect a structural turnaround. After years of investment and losses, the company is now poised to build on operating leverage and scale economics.
As India’s logistics sector continues to evolve, Delhivery’s first-ever profitable quarter may well be the inflection point that long-term investors have been waiting for.