Shiprocket’s Mixed Q1, Purple Style Labs’ Muted Listing & More

Shiprocket's Q1 2027 results indicate a narrowing loss, with revenue rising 34% year-over-year to ₹592.1 Cr and adjusted EBITDA growing to ₹8.9 Cr. However, overall expenses increased 31% YoY to ₹619.5 Cr. The company's domestic shipping vertical remains its strong point, contributing to profitability through cash flow and margin improvements.

Meanwhile, Purple Style Labs saw a muted IPO debut, trading at a 7% discount to its issue price of ₹575. Despite a strong IPO closing with 1.29X oversubscription, the stock closed at ₹568.05 on the BSE. Pixxel, a Google-backed spacetech firm, secured a $100 Mn Series C round led by Temasek and Seraphim, valuing the company between $400 Mn and $450 Mn.

Meanwhile, Swiggy plans to sell its retail distribution platform, Lynk, to Udaan in a share-swap deal, increasing its stake in the B2B e-commerce platform to 3.2%. Drone tech startup AITMC Ventures reported flat net profits despite a 26% YoY increase in operating revenues, with expenses rising 34.7% YoY. Temple, the wearable startup led by Deepinder Goyal, unveiled its first validation study, indicating its device's accuracy in tracking cerebral blood flow.