E-commerce logistics and enablement platform Shiprocket reported its first quarterly profit in FY27, posting a consolidated net profit of ₹0.6 crore in Q2, compared with a net loss of ₹20.3 crore in the corresponding quarter last year.
The company's revenue from operations increased 34.7% year-on-year (YoY) to ₹673.6 crore in the September quarter, against ₹500.2 crore in Q2 FY26.
The results mark an important milestone for the Gurugram-based company, which has been investing in expanding its logistics, fulfilment, checkout and cross-border commerce offerings.
Founded in 2012 by Saahil Goel, Gautam Kapoor and Vishesh Khurana, Shiprocket helps businesses manage shipping, order fulfilment and other e-commerce operations through its technology platform.
Shiprocket Narrows EBITDA Loss As Revenue Grows
Shiprocket's EBITDA loss narrowed significantly to ₹2.2 crore in Q2 FY27 from ₹20.3 crore in the year-ago quarter.
Total expenses increased 29.6% to ₹692.9 crore from ₹534.8 crore, growing slower than operating revenue during the period.
The company also reported other income of ₹19.9 crore, taking its total income to approximately ₹693.5 crore.
On a sequential basis, revenue from operations increased 13.8% from ₹592.1 crore in Q1 FY27, when the company had reported a net loss of ₹13.7 crore.
The improvement in profitability reflects progress in controlling losses across its emerging businesses while expanding its core logistics operations.
GMV Reaches ₹37,000 Cr As Merchant Adoption Expands
Shiprocket's growth continues to be supported by increasing adoption among online merchants.
Speaking to CNBC-TV18, the company said its gross merchandise value (GMV) reached approximately ₹37,000 crore. Its merchant base stood at 2.33 lakh, while around 20,000 customers were using its checkout platform.
The company also attributed approximately 25% of its Q2 revenue growth to an increase in average revenue per user (ARPU).
Shiprocket believes its checkout offering has significant room for wider adoption among existing merchants, providing another opportunity to expand revenue beyond its traditional shipping business.
Management also indicated that it expects margin expansion in its core business, although Q3 typically remains a seasonally weaker period.
Shiprocket's Post-IPO Performance
Shiprocket made its stock market debut on August 19, 2026, following its IPO, which received strong investor demand.
The shares listed at ₹131 on the NSE, a premium of 35.05% over the issue price of ₹97. On the BSE, the stock debuted at ₹129.50, representing a 33.5% premium.
Following the Q2 FY27 earnings announcement on November 5, Shiprocket shares gained more than 6% during intraday trading before giving up a significant portion of their gains.
The latest financial performance gives investors an early indication of the company's progress towards profitability following its public listing.
For Shiprocket, the next challenge will be to sustain revenue growth while keeping its emerging businesses on a path towards lower losses. Its ability to convert a growing merchant base, higher GMV and expanding platform adoption into consistent profitability will be important for its long-term business performance.
Disclaimer: This article is for information purposes only and is not investment advice. Investments in securities are subject to market risks. Please read the official offer documents before investing.
