Shiprocket narrows Q1 losses, Purple Style Labs listing subdued
Logistics firm Shiprocket reported reduced losses and increased revenue in its first-quarter results. Meanwhile, the stock market debut of luxury fashion platform Purple Style Labs was muted.
Logistics company Shiprocket has reported a reduction in losses for the first quarter of fiscal year 2027, as revenue grew and adjusted EBITDA improved. The company announced a net loss of ₹13.7 crore, a 24% decrease year-over-year. Operating revenue saw a significant jump of 34% to ₹592.1 crore.
Adjusted EBITDA rose to ₹8.9 crore from ₹1 crore in the same period last year. However, total expenses also increased by 31% to ₹619.5 crore, indicating that costs are rising alongside income. The company's core domestic shipping business remains a strong performer, driving revenue and profit growth.
Shiprocket is also investing in emerging verticals such as checkout solutions, marketing, cross-border shipping, and omnichannel services. This segment grew significantly faster than the core business and now contributes 30% of revenue. However, these expansion efforts have led to widening losses in the emerging business segment as the company prioritizes market adoption.
In separate market news, Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Shop, experienced a muted stock market debut. The shares listed at a discount of nearly 7% to their issue price on both the NSE and BSE. The company's market capitalization stood at ₹4,547.9 crore at the end of its first trading session.
Other business updates include spacetech startup Pixxel raising $100 million in its Series C round. Additionally, food delivery giant Swiggy has agreed to sell its retail distribution platform Lynk to B2B e-commerce unicorn Udaan in a share-swap deal.