Shiprocket Reports 24% Year-Over-Year Loss Reduction in Q1
Logistics firm Shiprocket reduced its net loss by 24% year-over-year in the first quarter, reaching ₹13.7 crore, while its revenue increased by 34%. The company is investing in rapidly growing new business segments.
Logistics company Shiprocket reported a 24% year-over-year reduction in its net loss for the first quarter of fiscal year 2027, bringing the figure to ₹13.7 crore (approximately $1.6 million USD). This marks a decrease from ₹18 crore in the same period last year and a 16% reduction from the previous quarter's loss of ₹16.3 crore.
Operating revenue saw a 34% increase year-over-year, reaching ₹592.1 crore, and a 7% increase quarter-over-quarter. Including other income, total income for the quarter was ₹605.8 crore. Total expenses rose by 31% year-over-year to ₹619.5 crore, with merchant solutions and employee benefits being the largest expenditure categories.
Shiprocket's adjusted EBITDA grew significantly to ₹8.9 crore from ₹1 crore in the prior-year period, driven by growth in its core logistics business and emerging ventures. The company breaks down its performance into a core business segment, primarily domestic shipping, and emerging segments like checkout, marketing, cross-border, and omnichannel solutions. Core business revenue grew 22% year-over-year to ₹411.7 crore with an adjusted EBITDA of ₹52.7 crore.
The emerging business vertical experienced substantial revenue growth of 70% year-over-year, contributing ₹180.4 crore, or 30% of consolidated revenue, up from 24% in the previous year. However, this segment incurred a loss of ₹43.8 crore. CFO Tanmay Kumar attributed the growth to reinvesting profits from the core business into these new areas. CEO Saahil Goel stated the company is focused on long-term development and continues to invest in unlocking the potential of Indian businesses.