New Delhi, November 5: Leading logistics and e-commerce enablement platform Shiprocket has scripted a turnaround for Q2 FY27, reporting a net profit of ₹0.60 crore as against a net loss of ₹20.3 crore for the same period last year. The recently listed company has worked to optimize its operations and has seen strong growth in its emerging business segment, which helped narrow its Adjusted EBITDA margin from 31.5% to 21.2%.
During the quarter, the company used proceeds from its recent initial public offering (IPO) to pay down most of its corporate debt, resulting in a leaner balance sheet and lower financing costs. The company operates in a highly crowded market, and it has to do much more to justify the faith investors placed in it for its IPO.
Shiprocket’s core business transactions grew 37% YoY as the company is working to cross sell its services to more than 2,36,000 active merchants on its platform.
“Indian commerce is splitting across more channels every year. A small brand today sells on its own website and on Instagram, replenishes quick commerce dark stores, and is starting to be found through AI search. For a large company, every new channel means a new team. For a small seller, it means friction. Shiprocket is building the infrastructure that removes this friction, so that any MSME in India can sell, ship and grow on the same footing as India’s biggest brands, every channel a switch away on one dashboard. Growing 35% with positive Adjusted EBITDA and operating cash flow shows we can build it from our own operations.” Saahil Goel, Managing Director and CEO of Shiprocket, said in a press release.
“PAT turned positive this quarter on three drivers. First, scale in Core: transactions grew 37% and Adjusted EBITDA grew faster than revenue. Second, the Emerging engine kept firing: Martech and Omnichannel, our fastest-growing lines, more than doubled Emerging contribution on 61% revenue growth. Third, a stronger balance sheet: IPO proceeds retired all our borrowings, which cut finance costs, and the surplus now earns interest income,” Tanmay Kumar, CFO of Shiprocket, added.
