Shares of slumped 8.58 per cent in Thursday's trade to hit a low of Rs 443.35 after the logistics company announced its July-September quarter (Q2 FY26) results.

Brokerage JM Financial said Delhivery reported revenue of Rs 2,560 crore, up 16.9 per cent year-on-year (YoY), with an adjusted EBITDA margin of 3.3 per cent (excluding e-commerce integration costs), which remained sequentially flat. Advertisement

The domestic brokerage noted that the performance came in below expectations, primarily due to back-ended demand linked to GST-related factors.

According to JM Financial, around 5–6 per cent of Delhivery's Express Parcel shipments are likely to be recognised as revenue only in the third quarter (Q3 FY26). This could add over Rs 11 crore in revenue and Rs 4 crore in EBITDA in the upco

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