Delphi World Money Reports Strong Q3 & 9M FY26 Performance Driven by Travel Recovery and Operational Efficiencies

Delphi World Money Limited (NSE: DELPHIFX) reported a robust performance for Q3-FY26, marked by a significant 24 per cent quarter-on-quarter increase in adjusted revenue to Rs 547 million. This growth was accompanied by a notable EBITDA turnaround, swinging from a loss of Rs 60.46 million in the previous quarter to a profit of Rs 52.54 million. The results reflect the successful integration of the company’s travel and foreign exchange services, bolstered by operational efficiencies and an improved business mix following a strategic corporate realignment.

The company’s growth is increasingly driven by its integrated travel ecosystem, which serves B2B partners, corporate clients and individual travellers across India, Southeast Asia and the Middle East. Key operating metrics, including Gross Merchandise Value (GMV) and customer retention, showed consistent sequential improvement throughout the nine months. By merging travel services with its financial platform, the company has positioned itself to capitalise on sustained travel demand and the evolving spending patterns of India’s young working population.

To scale profitability, Delphi World Money is prioritising high-tech initiatives such as AI-driven platform optimisation for dynamic pricing and personalised customer engagement. The company is also expanding its footprint through fintech partnerships to offer embedded credit and insurance solutions, alongside a focus on high-margin segments like experiential "Luxury Train Holidays." These efforts are supported by ongoing automation and cost-rationalisation measures intended to improve margins as transaction volumes rise across domestic and international markets.

The company has set ambitious targets for the coming fiscal year, projecting a 35 per cent to 40 per cent growth in GMV to approximately Rs 94 billion. Driven by cross-sell synergies and operating leverage, revenue is expected to grow by 45 per cent to 50 per cent, while EBITDA is projected to nearly double, reaching approximately Rs 480 million. This trajectory underscores a shift toward long-term scalability and structural improvement, moving beyond one-time gains to establish a more profitable, integrated financial and travel services platform.

About the Company

Delphi World Money Ltd, an RBI-authorised Category II Dealer, has evolved into the central platform for Ebix Inc.’s global travel and hospitality portfolio. By integrating the digital capabilities with the 75-year heritage of Mercury Travels, the company now operates across the entire travel value chain, including international ticketing, MICE and luxury holidays. This strategic consolidation enables Delphi to leverage its established expertise in foreign exchange and remittances to create a unified ecosystem, positioning the enterprise to scale rapidly and drive innovation within India’s expanding travel sector.

The company has a market cap of over Rs 300 crore. As of December 2025, the promoters of the company sold 13.68 per cent stake in the company and decreased it to 61.32 per cent compared to September 2025. The stock is up by 100 per cent from its 52-week low of Rs 6.74 per share.

Disclaimer: The article is for informational purposes only and not investment advice.