Shiprocket shares gain 3% as Q1 net loss narrows to Rs 14 crore in first earnings post IPO; revenue up 34% YoY

Shares of Shiprocket rose 3% to Rs 140 on the BSE on Tuesday after the logistics company reported its first earnings since listing on the stock exchanges. The company posted a consolidated net loss of Rs 13.7 crore for Q1FY27, narrowing from a loss of Rs 18 crore in the year-ago quarter. Revenue from operations increased 33.8% year-on-year to Rs 592.1 crore from Rs 442.5 crore in Q1FY26.

EBITDA loss also narrowed to Rs 21 crore from Rs 26 crore a year earlier. On an adjusted basis, Shiprocket reported positive EBITDA of Rs 8.9 crore, compared with Rs 1 crore in Q1FY26. The company said it remained adjusted EBITDA positive throughout the quarter.

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The improvement in adjusted profitability came alongside continued investments in the company's faster-growing businesses. Shiprocket's core business generated adjusted EBITDA of Rs 52.7 crore, with a margin of 12.8%, compared with 12.3% a year ago.

Shiprocket Managing Director and CEO Saahil Goel said the Q1 results were in line with the company's strategy. “We are only a few years into a decade-long build, and we continue to double down and invest behind unlocking the true potential of India's businesses,” he said.

Shiprocket's emerging business revenue jumps 70%

Shiprocket's core business revenue grew 22% year-on-year to Rs 411.7 crore, while revenue from its emerging business surged 70% to Rs 180.4 crore. The emerging business includes checkout and marketing solutions, cross-border and omnichannel solutions.

The company said its emerging business grew 3.2 times faster than the core business and accounted for 30% of total revenue in the quarter, up from 24% a year ago. The segment's contribution margin rose to 15.3% from 9.3%, while absolute contribution increased to Rs 27.7 crore from Rs 9.8 crore. Its EBITDA margin also improved to -24% from -38%.

Within the segment, Checkout and Marketing Solutions grew around 193% year-on-year, according to the company. Management said businesses such as Ads were barely present two years ago but have now become among the faster-growing parts of the platform.

Shiprocket ended the quarter with 224,314 active merchants. Its trailing 12-month GMV stood at Rs 34,661.8 crore, while unique transactions reached 216 million.

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The company also expanded its technology offering during the quarter. It launched an upgraded RADAR AI-powered courier intelligence platform that can identify SLA breaches and return-to-origin risks at the pincode level before an order is dispatched.

Shiprocket also introduced an AI Ads platform for static, editable, short-form and 360-degree creatives, along with AI Assist and AI Calling for order confirmation. It further rolled out appointment-based cargo deliveries to quick-commerce dark stores, with integrations including Blinkit and Zepto.

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