Delhivery shares plunge 4% as net profit tumbles 65% YoY. Why Nuvama still maintains Buy rating

Delhivery shares opened at Rs 456.40 apiece on Monday morning after the company on Saturday reported the sharp decline in net profit. Revenue from operations however rose 28% YoY to Rs 2,930.7 crore during the April-June quarter of the ongoing FY2027, from Rs 2,294 crore posted in the corresponding quarter of the previous financial year.

EBITDA or earnings before interest, tax, depreciation and amortisation declined 4% to Rs 142.2 crore, while the EBITDA margin stood at 4.9%, compared with 6.5% a year earlier. The firm’s total expenses rose 29% YoY to Rs 3,011.6 crore in the quarter ended June, compared with Rs 2,326.6 crore a year ago and Rs 2,853.1 crore in the previous quarter.

Delhivery said the operating environment was particularly challenging due to volatile labour availability amid elections and climate disruptions, geopolitical uncertainty and changes to labour codes. The company also said higher global crude prices during Q1 pushed up petrol and diesel prices as well as the cost of crude-related consumables.

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Delhivery Q1 Results: Net profit tumbles 65% YoY to Rs 32 crore, but revenue rises 28%

Nuvama on Delhivery share price

Nuvama Institutional Equities maintained its ‘Buy’ call on the shares of Delhivery, but reduced its target price to Rs 570 apiece from Rs 580 apiece earlier. The latest target price implies more than 20% upside potential from the stock’s previous closing price of Rs 473 apiece on NSE.## Delhivery share price

Delhivery shares have recorded marginal gains in a week, but have fallen more than 9% in one month. The stock, however, is up 18% in 2026 so far.In the longer term, Delhivery shares have delivered nearly 2% returns in a year and 12.5% in three years. The company has a market capitalisation of more than Rs 26,035 crore.

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Delhivery top-deck rejig: COO Ajith Pai resigns; Vani Venkatesh named deputy CEO

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