Shiprocket trimmed its Q1 FY27 net loss by 24% YoY and 16% QoQ to ₹13.7 Cr.
Operating revenue zoomed 34% YoY and 7% QoQ to ₹592.1 Cr while adjusted EBITDA grew near 9X YoY to ₹8.9 Cr.
While total income surged past the ₹600 Cr mark, total expenses for the quarter also jumped 31% YoY to ₹619.5 Cr,
Recently listed logistics company shiprocket managed to cut its net loss for the June quarter (Q1 FY27) by 24% to ₹13.7 Cr from ₹18 Cr. The company managed to cut its loss by 16% from ₹16.3 Cr loss incurred in the previous quarter.
Operating revenue zoomed 34% YoY and 7% QoQ to ₹592.1 Cr. Including other income of ₹13.7 Cr, total income for the quarter stood at ₹605.8 Cr.
Meanwhile, total expenses jumped 31% YoY to ₹619.5 Cr. Cost of merchant solutions, amounting to ₹432.7 Cr, and employee benefits expense, at ₹106.5 Cr, comprised the bulk of its expenditure.
Shiprocket said that its adjusted EBITDA for the quarter under review scaled to ₹8.9 Cr from ₹1 Cr in the year-ago quarter, driven by solid uptick for its cash-generative core business and emerging businesses.
The company further reported breaking down its business between its core business segment and emerging business, which included checkout and marketing solutions, as well as cross-border and omnichannel solutions. The former grew 22% YoY in terms of topline, generating ₹411.7 Cr in revenue and ₹52.7 Cr in adjusted EBITDA.
The revenue of the company’s core business, which comprises a domestic shipping platform that connects merchants and logistics partners and its shipping apps, grew by 22% YoY to ₹411.7 Cr, while its profit for the quarter increased by 28% to ₹52.7 Cr.
Meanwhile, its emerging business vertical, which comprises value-added products and services that help online sellers manage their entire ecommerce journey, incurred a loss of ₹43.8 Cr, up about 10% YoY. The revenue from this vertical surged by 70% YoY to ₹180.4 Cr.
The vertical grew 3X faster than its core business and contributed 30% of the company’s consolidated revenue compared to 24% in the year-ago period.
CFO Tanmay Kumar attributed the growth of this slice of Shiprocket’s business to reinvesting the profits of its core business from the previous year into checkout, cross-border, and omnichannel solutions.
“Some of the lines we have invested in, like Ads, barely existed two years ago,” he added, noting that these bets are already growing and driving improvements in the contribution margin.
Here are a few new launches by the recently listed company:
- An AI ads stack for static, editable, shorts and 360° creatives
- AI Assist and AI Calling for order confirmation
- Appointment-based cargo deliveries for dark stores integrated into quick commerce platforms like Zepto and Blinkit
“We are only a few years into a decade-long build, and we continue to double down and invest behind unlocking the true potential of India’s businesses,” said Shiprocket’s MD and CEO Saahil Goel.
Founded in 2017 by Goel, Gautam Kapoor, Vishesh Khurana and Akshay Ghulati, Shiprocket started out as a logistics aggregator for online sellers, partnering with third-party delivery services. It has since expanded into full-stack ecommerce enablement.
The startup launched its IPO just last monthraising ₹885.5 Cr through a fresh issue of shares. Investors also offloaded a cumulative stake worth ₹732 Cr.
Shiprocket’s stock closed the day 0.04% lower at ₹135.80. The stock is currently trading at a premium to the upper IPO price band of ₹97, bringing its market cap relatively close to the near ₹10,000 Cr valuation at which it last raised funds in December 2024.