Delhivery shares in focus as firm gets relief in ₹1.37 crore income tax penalty order case

“…it is hereby informed that the Company has received an appellate order in favour of the Company, passed by the Commissioner of Income-tax (Appeals), New Delhi, against the order dated June 28, 2025, passed under Section 271(1)(c) of the Income Tax Act, 1961, by the Assessing Officer,” Delhivery said in a regulatory filing.

The appellate authority has passed an order deleting the penalty of ₹136,95,768 that was earlier imposed on the firm under Section 271(1)(c) of the Income Tax Act, 1961, by the Assessing Officer for the assessment year 2016–17, through an order dated June 28, 2025.

Further, the appellate order dated December 26, 2025, was retrieved from the online portal on January 5, 2026.

“It is the favourable order for the company. There is no impact on financials, operations, or other activities of the company,” Delhivery said.

Delivery share price

On Tuesday, shares of Delhivery settled at ₹413 apiece on the National Stock Exchange, rising 0.25%. The development, however, came after market hours.

In a month, shares of the firm have gained 4%, while on a year-on-year basis, they have surged over 22%.

The company has a market capitalisation of ₹30,896.36 crore.

Shares of Delhivery had touched their one-year high of ₹490 apiece on November 4, 2025, while their 52-week low of ₹236.53 was hit on March 13, 2025.

Delivery Q2 earnings

Delhivery had reported a consolidated loss of ₹50.37 crore for the September quarter of the current financial year (Q2 FY26) against a profit of ₹10.20 crore logged in the year-ago period. The company had attributed the loss to Ecom Express integration costs.

Its total income, however, rose 14.81% to ₹2,651.53 crore in the quarter under review compared to ₹2,309.33 crore seen a year ago, the company said in a regulatory filing.

Delhivery had said its revenue from services (excluding Ecom Express) was ₹2,546 crore in Q2 FY26, a growth of 16% YoY vs. ₹2,190 crore in Q2 FY25. Its EBITDA (excluding Ecom Express integration costs) stood at ₹150 crore (5.9% margin) in Q2 FY26, a growth of 162% YoY from ₹57 crore (2.6% margin) in Q2 FY25.

On a standalone basis, the profit after tax (excluding Ecom Express integration costs) during Q2 FY26 was recorded at ₹59 crore against a PAT of ₹10 crore in the same quarter of the last year.

Its revenue from services (excluding Ecom Express) for the second quarter rose 16% to ₹2,546 crore from ₹2,190 crore seen in Q2 FY25.