Shiprocket, a recently-listed logistics startup, reduced its consolidated net loss by 24% to Rs 13.7 crore in the June quarter of fiscal 2026-27 (Q1 FY27), compared with Rs 18 crore in the same quarter last year. Revenue from operations rose 34% year-on-year to Rs 592.1 crore in Q1 FY27, driven by growth in its core shipping business and emerging verticals including Checkout, martech, fintech, cross-border, and omnichannel retail solutions, according to medianama.com.
The sequential decline in losses was 16%, down from Rs 16.3 crore in the previous quarter. Operating revenue increased 7% quarter-on-quarter from Rs 554.4 crore. Shiprocket processed 216 million merchant transactions with a combined gross merchandise value (GMV) of Rs 3,466.2 crore during Q1 FY27. The platform had 224,314 active merchants as of June 2026. Domestic shipping, including cargo and hyperlocal services, remains Shiprocket's main revenue driver, generating Rs 411.7 crore, or nearly 70% of total operating revenue, and posted a profit of Rs 52.7 crore in the quarter.
Shiprocket's performance reflects the growth potential of India's e-commerce logistics sector. The core shipping vertical has been profitable for some time, underscoring the company's operational strength. Co-founder and CEO Saahil Goel noted that India's e-commerce market is expected to more than double to $180–200 billion by 2030, with most merchants relying on rented logistics, payments, and growth infrastructure rather than building their own. This positions Shiprocket to benefit from the expanding demand for integrated logistics solutions.
The company’s next financial update will be closely watched to assess whether the growth momentum and profitability in its core shipping business continue. The 224,314 active merchants and the Rs 3,466.2 crore GMV processed in Q1 FY27 highlight Shiprocket’s expanding footprint in the logistics sector, as reported by medianama.com.