Unicommerce records 31.1% YoY jump in net profit in Q1 FY25
The Softbank-backed company witnessed a 9.2% rise in total revenue during the quarter, climbing to Rs 27.5 crore compared to Rs 25 crore the previous year.
Retail and ecommerce enablement SaaS firm has reported a 31.1% year-on-year (YoY) increase in net profit in Q1 FY25 to Rs 3.5 crore, compared to Rs 2.7 crore earned in the comparable period a year ago.
The SoftBank-backed company witnessed a 9.2% YoY increase in total revenue during the first quarter, climbing to Rs 27.5 crore compared with Rs 25 crore earned in the previous year, financial statements filed by the company showed.
Total income rose to Rs 29 crore, up from Rs 26.3 crore in the quarter ended March.
The total expenses rose by 7% YoY to Rs 24.3 crore for the first quarter, compared with Rs 22.67 crore incurred in the previous year. The startup’s employee benefit expenses in the first quarter of 2024 saw a 5% YoY decline to Rs 16.5 crore compared with Rs 17.4 crore in the corresponding quarter last year.
The company's adjusted EBITDA increased by approximately 23% YoY to Rs 4.5 crore in Q1 FY25, up from Rs 3.6 crore in Q1 FY24.
In Q1 FY25, the company onboarded more than 85 new enterprise clients, bringing the total to 855 as of June 30, 2024. Additionally, the company has processed 212.8 million order items during the quarter, achieving an annual transaction run rate of over 850 million.
“While the ecommerce industry’s long-term growth story is robust, we are also mindful of the recent slowdown that affected the sector due to macroeconomic challenges and shifts in consumer spending patterns. Despite this, we continue to acquire new clients across industry verticals, which is consistent with the overarching trend of increasing digital adoption by participants in the ecommerce ecosystem,” Kapil Makhija, Managing Director, Unicommerce said in a statement.
Unicommerce experienced a notable surge of nearly 9% in its shares on their debut day following a highly successful launch on Indian stock exchanges.
The Delhi-based company's stock opened at Rs 235 per share on the NSE, representing a 117.6% premium over its issue price of Rs 108. On the BSE, the stock started at Rs 230, reflecting a 113% premium.
The IPO was massively oversubscribed by 168.32 times on the last day of bidding, driven by robust interest from both non-institutional and retail investors. This strong demand made Unicommerce's IPO one of the most subscribed startup offerings in India this year, with the price range set between Rs 102 and Rs 108 per share.
Founded in 2012, Unicommerce offers SaaS solutions to streamline end-to-end ecommerce operations for brands, retailers, marketplaces, and logistics providers. Its clients include , , Lenskart, Fabindia, SUGAR Cosmetics, and boAt Lifestyle.
Edited by Jyoti Narayan
