Unicommerce, a e-commerce Qualification SaaS The firm has announced a significant 31.1% year-on-year increase in its net profit for the first quarter of fiscal year 25 (Q1FY25).
The company’s net profit rose to Rs 3.5 crore, compared to Rs 2.7 crore in the same period last year.
Revenue growth amid industry challenges
The company reported a 9.2% year-on-year increase in total revenue for the quarter, rising to Rs 27.5 crore from Rs 25 crore in the previous year.
Unicommerce’s total revenue saw a 10.7% increase at Rs 29 crore, compared to Rs 26.3 crore in the previous year.
Despite macroeconomic challenges and shifting consumer spending patterns, Unicommerce has continued to expand its customer base, with over 85 new business customers onboarded in Q1 FY25, bringing the total number of customers to 855.
Expense management and EBITDA improvement
Unicommerce managed its expenses efficiently, with total expenses up 7% year-on-year at Rs 24.3 crore in the first quarter, up from Rs 22.67 crore in the previous year.
Notably, the company’s employee benefits expenses saw a 5% year-on-year decline to Rs 16.5 crore, reflecting a focus on cost control.
The company’s Adjusted EBITDA also improved by approximately 23% YoY, reaching Rs 4.5 crore in Q1FY25, compared to Rs 3.6 crore in Q1FY24.
Recent IPO launch
The company’s strong financial performance was complemented by its impressive debut on the Indian stock exchanges.
Shares of Unicommerce rose nearly 9% on their debut day, opening at Rs 235 per share on the NSE, which was a 117.6% premium over the issue price of Rs 108. On the BSE, the stock opened at Rs 230, a 113% premium.
The IPO, which was subscribed 168.32 times, generated significant interest from both non-institutional and retail investors.
What does Unicommerce do?
Founded in 2012, Unicommerce offers SaaS solutions designed to streamline e-commerce operations for brands, retailers, marketplaces and logistics providers.
The company claims to have notable clients like Zivame, Mamaearth, Lenskart, Fabindia, SUGAR Cosmetics and Boat lifestyle.
“While the long-term growth story of the e-commerce industry is strong, we are also mindful of the recent slowdown that impacted the sector due to macroeconomic challenges and changing consumer spending patterns. Despite this, we continue to acquire new customers across all industry sectors, which is consistent with the overall trend of increasing digital adoption by participants in the e-commerce ecosystem,” said Unicommerce CEO Kapil Makhija.
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