Delhivery profit falls 65% as Gland Pharma signs strategic manufacturing deal

Logistics provider Delhivery reported a 65% year-on-year decline in net profit for the first quarter of FY27, falling to ₹31.9 crore from ₹91 crore in the previous year. Despite the profit drop, revenue from operations grew by 28% to ₹2,930.7 crore. The company attributed the decreased profit to rising total expenses, which increased by 29%, driven by factors including labor shortages during elections, climate disruptions, geopolitical uncertainty, and higher fuel costs due to global crude prices. To address rising costs, Delhivery has initiated pricing revisions across client contracts.

Gland Pharma has entered into a strategic Manufacturing and Supply Agreement (MSA) with a leading global pharmaceutical company. This partnership utilizes a full-service CDMO model for the technology transfer, manufacturing, and supply of a portfolio of sterile injectable products, including oncology and non-oncology medications. The agreement covers 55 stock keeping units (SKUs) to be produced across three sites, with an estimated annualized revenue potential of $90-100 million once fully commercialized. Revenue generation from this collaboration is anticipated to begin in calendar year 2029.