Delhivery, Blackbuck Q2 Results; Nvidia Joins Indian Deep Tech Body
Several major companies have recently announced their Q2 FY26 results, while a global tech giant has joined a key Indian alliance. Here's a breakdown of the latest developments:
Delhivery's Q2 FY26 Performance
Logistics firm Delhivery has released its financial results for the second quarter of fiscal year 2025-26 (FY26), revealing a mixed performance. While the company experienced a notable increase in revenue, it also reported a net loss for the quarter.
Delhivery's consolidated revenue from operations reached ₹2,559 crore in Q2 FY26, marking a 16.9% year-on-year (YoY) increase from ₹2,189.7 crore in the same period last year. Revenue from services, excluding Ecom Express, stood at ₹2,546 crore, up 16% YoY. Despite this revenue growth, the company reported a loss of ₹50.37 crore for the quarter, a stark contrast to the ₹10.2 crore profit it recorded in the same period last year. The company attributed this loss primarily to integration costs associated with Ecom Express. Excluding these one-time integration expenses, the company's PAT (profit after tax) would have been ₹59 crore in Q2 FY26.
In terms of business segment performance, Express Parcel shipments saw a 32% YoY growth in volume, reaching 246 million shipments, and a 24% increase in revenue, amounting to ₹1,611.00 crore. The Part Truck Load (PTL) segment also experienced growth, with tonnage increasing by 12% YoY to 477,000 MT and revenue rising by 15% YoY to ₹546.00 crore.
Delhivery formally completed the acquisition of Ecom Express on July 18, 2025. Volume manifestation at Ecom Express ceased during Q1 FY26, and the exit of non-express businesses is currently underway, with the revenue transition largely completed in Q2 FY26. Delhivery also launched Freight Index One, an open platform for FTL pricing estimates.
Blackbuck's Q2 FY26 Performance
BlackBuck Limited, a trucking aggregator, has announced strong Q2 FY26 results, showcasing significant growth and improved profitability. The company's total income rose by 60.35% YoY to ₹1,671.99 crore. Revenue from operations increased to ₹1,511.40 crore, up 53.02% YoY. EBITDA grew by 142.84% to ₹365.20 crore, with the margin improving from 19.4% to 31.4%. BlackBuck reported a profit after tax of ₹291.95 crore, a significant turnaround compared to a loss in the previous year.
The company's core businesses grew by 36.68%, while growth businesses like 'Superloads' and 'Vehicle Finance' surged by 226.13% YoY. Key performance indicators showed positive trends, including a 13.22% increase in monthly transacting truck operators and a 28.65% rise in the gross transaction value of payments.
Nvidia Joins India Deep Tech Alliance
Nvidia has joined the India Deep Tech Alliance, a coalition of investors backing deep-tech startups in India. The alliance has secured over $850 million in capital commitments to address the funding gap in the Indian deep-tech sector. Nvidia will serve as a founding member and strategic advisor, providing technical guidance, training, and policy input to help Indian deep-tech startups adopt its AI and computing tools.
The India Deep Tech Alliance was launched in September with an initial commitment of $1 billion to support companies in industries such as space, semiconductors, artificial intelligence, and robotics. New investors joining the alliance include Qualcomm Ventures, Activate AI, InfoEdge Ventures, Chirate Ventures, and Kalaari Capital. This move aims to tackle the chronic underfunding of research-driven startups, which often struggle to attract venture capital due to long development timelines and uncertain profitability. Nvidia's involvement underscores the increasing importance of deep-tech innovation, particularly as India seeks to strengthen its domestic capabilities in these advanced technology sectors.
