Shiprocket Trims Q1 Loss By 24% YoY To ₹13.7 Cr, Revenue Surges 34%

Logistics company Shiprocket, recently listed, managed to reduce its net loss for Q1 FY27 by 24% to ₹13.7 Cr from ₹18 Cr. Operating revenue surged 34% year-over-year and 7% quarter-over-quarter to ₹592.1 Cr, with total income reaching ₹605.8 Cr when including other income of ₹13.7 Cr. Expenses grew by 31% YoY to ₹619.5 Cr, with merchant solutions and employee benefits expenses accounting for most of the expenditure.

Shiprocket's adjusted EBITDA for the quarter was ₹8.9 Cr, up from ₹1 Cr in the previous year, driven by a strong performance in its cash-generative core business and emerging businesses.

The core business segment, consisting of a domestic shipping platform and shipping apps, grew by 22% YoY to ₹411.7 Cr in revenue and ₹52.7 Cr in adjusted EBITDA. The emerging business vertical, comprising value-added products and services for online sellers, incurred a loss of ₹43.8 Cr, up about 10% YoY, but saw a 70% YoY revenue increase to ₹180.4 Cr, contributing 30% of the company's consolidated revenue.

CFO Tanmay Kumar credited the growth of this segment to reinvesting core business profits into checkout, cross-border, and omnichannel solutions, which have already shown improvements in contribution margin.

Shiprocket's MD and CEO Saahil Goel emphasized that the company is just beginning a decade-long build and continues to invest in unlocking India's businesses' potential. The recently listed company launched its IPO last month, raising ₹885.5 Cr through a share issue, with investors selling a cumulative stake worth ₹732 Cr. Shiprocket's stock closed the day 0.04% lower at ₹135.80 and is currently trading at a premium to the IPO price band of ₹97, with a near ₹10,000 Cr valuation following its December 2024 fundraise.