Shiprocket’s core business continues to strengthen while its investments in its emerging business continues.
The company reported a 34% increase in its first quarter revenue to ₹592.08 crore from ₹442.4 crore last year. Meanwhile, its net loss narrowed to ₹13.7 crore from ₹18.03 crore last year. Its earnings before interest, taxes, depreciation and amortization (EBITDA) loss narrowed as well to ₹10.86 crore from a loss of ₹17.62 crore in the first quarter last fiscal.
Shiprocket’s core segment’s revenue increased by 22% from last year to ₹411.7 crore in the June quarter from ₹336.6 crore. Its EBIT increased by 28% to ₹52.6 crore from ₹41.2 crore during the year-ago period. The core segment’s margin also expanded by 60 basis points to 12.8% from 12.2% in the year-ago period.
In the emerging segment, Shiprocket’s revenue increased by 70% to ₹180.3 crore from ₹105.8 crore in the year-ago period. However, its EBIT loss expanded to ₹43.7 crore from ₹40.3 crore last year.
The company said its gross merchandise value (GMV) increased by 31%, while its transactions were up 36% from the same quarter last year.
Shiprocket shares ended the previous session 1% lower at ₹134.5 apiece.
The stock made a strong debut on the exchanges last month with a premium of 35% over its issue price.
The stock is now up 38.7% from its issue price of ₹97 apiece and is up 2.7% from its listing price of ₹131 per share.
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