Delphi World Money Q3 FY26: Revenue Up 24% QoQ, EBITDA Turns Positive
Delphi World Money reported Q3 FY26 Adjusted Revenue of ₹547 million (₹54.7 crore), up 24% QoQ. Adjusted EBITDA turned positive at ₹52.54 million (₹5.25 crore). For FY26, the company expects ~₹6,800 crore GMV and ~₹24 crore EBITDA. FY27 projections include ~₹9,400 crore GMV, ~45-50% revenue growth, and ~₹48 crore EBITDA.
The financial results show significant positive momentum with strong revenue growth and a positive EBITDA turn around. The forward-looking guidance for FY27 is also very optimistic, indicating substantial growth in key metrics, which should have a high impact on investor sentiment.
The company reported strong quarter-on-quarter revenue growth and a significant turnaround in EBITDA from negative to positive. Future projections for FY26 and FY27 also indicate robust growth in GMV, revenue, and EBITDA.
Delphi World Money Limited announced its financial results for the third quarter ended December 31, 2025, reporting strong performance driven by travel recovery and operational efficiencies.
Adjusted Revenue (excluding direct MICE costs) grew 24% quarter-on-quarter to ₹547 million (₹54.7 crore) in Q3 FY26, up from ₹442 million (₹44.2 crore) in Q2 FY26. For the nine-month period of FY26, Proforma Adjusted Revenue reached ₹1,479 million (₹147.9 crore), assuming full-period consolidation of the Travel business. Adjusted EBITDA showed a significant turnaround, improving from a loss of ₹60.46 million (₹6.05 crore) in Q2 FY26 to a gain of ₹52.54 million (₹5.25 crore) in Q3 FY26. For the 9-month period of FY26, Proforma Adjusted EBITDA narrowed to a loss of ₹72.14 million (₹7.21 crore) from ₹174.37 million (₹17.44 crore) in the prior year period, indicating progress towards profitability.
The company, a leading travel and foreign exchange solutions provider, is focused on integrating its Travel Services with its Financial Services platform. Key growth levers include AI-driven optimization, technology upgrades, fintech partnerships, international expansion, and leadership in experiential travel. For the full fiscal year FY26, Delphi World Money expects to process transactions totaling approximately ₹68 billion (₹6,800 crore) in GMV and deliver full-year Adjusted EBITDA of ~₹240 million (₹24 crore).
Looking ahead to FY27, the company projects 35%-40% GMV growth to approximately ₹94 billion (₹9,400 crore), 45%-50% revenue growth, and 80%-100% EBITDA growth, with projected FY27 EBITDA at approximately ₹480 million (₹48 crore). Mr. Arun Batra, Director, expressed confidence in the company's long-term growth trajectory, driven by a diversified business model, disciplined execution, and investments in technology.
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