Delhivery shares slipped over 2% in morning trade after HSBC reduced its target price to ₹400 per share while maintaining a ‘Buy’ rating. The downgrade follows Delhivery’s weaker-than-expected Q3FY25 results, with the logistics giant missing revenue growth and profitability estimates.
The company’s express parcel segment reported muted growth, reflecting broader challenges in the Indian logistics sector. Delhivery’s management acknowledged the shrinking profit pool but remains optimistic about industry consolidation, which could drive long-term gains.
HSBC has revised its EBITDA estimates for FY26-27 downward by 12-13%, citing concerns over slower-than-expected margin improvements. Despite these near-term headwinds, the brokerage firm believes Delhivery is well-positioned to benefit from India’s expanding e-commerce and supply chain logistics sector.
Delhivery’s stock opened at ₹297.25 and hit a high of ₹297.30, while the day’s low touched ₹289.65. This marks its 52-week low, with the highest in the past year being ₹485.00. As of 9:56 AM, the shares were trading 2.39% lower at Rs 290.15.
Delhivery Q3 results
Delhivery Limited has reported impressive Q3 FY25 financial results, showcasing strong revenue growth and a remarkable turnaround in profitability. The company’s consolidated revenue from operations rose to ₹2,378.3 crore, an 8.6% increase from ₹2,194.5 crore in Q3 FY24. Net profit surged to ₹40.59 crore, a significant improvement from a loss of ₹170.74 crore in the same period last year.
On a standalone basis, Delhivery recorded ₹2,204.2 crore in revenue, with a net profit of ₹38 crore. For the nine-month period ending December 31, 2024, the company achieved ₹6,740.3 crore in revenue, up from ₹6,065.9 crore YoY, with a net profit of ₹129.07 crore, reversing last year’s loss of ₹171.74 crore.
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