Shipping enabler Shiprocket's revenue hits 
1,316 crore in FY24
Shiprocket, a logistics and supply chain facilitator, saw respectable growth in the fiscal year that concluded in March 2024. According to Sahil Goel, the company’s co-founder and CEO, operating revenue increased by 21% in the most recent fiscal year, reaching Rs 1,316 crore.
For comparison, Shiprocket’s operating revenue in FY23 was Rs 1,088.7 crore, but its losses during the same period were Rs 333.81 crore, which included Rs 63.16 crore in exceptional items booked for investment provisions and intangible asset amortization.
Goel asserted that Shiprocket decreased its cash EBITDA burn by 48%, from Rs 191 crore in FY23 to Rs 100 crore in FY24, even though the company is still far from profitability. He asserts that the company’s achievement of cash profitability in the first two quarters of FY25 was largely due to the decrease in losses.
According to Goel’s LinkedIn post, Shiprocket’s efforts to maximize operational efficiency, save expenses, and boost its profit margins are reflected in the improved EBITDA margin.
“As we quickly expand new products and offers for Indian SMBs, our Emerging Businesses—including Shiprocket Cross Border, Checkout, Capital, and other innovations—are growing at a rate of ~75% Y-o-Y,” Goel stated
Similarly, a foodtech major & quick commerce platform, Zomato declared its financial statements for the second quarter of the current financial year – Q2 FY25. Comparatively, the Gurugram-based company’s revenue rate surged by more than 68.5% in Q2FY25.
As per the consolidated financial results gotten from the National Stock Exchange – NSE, the operating revenue of the company is increased to 4,799 crore in Q2 FY25 from Rs 2,848 crore in Q2 FY24.
In order to raise 8, 500 crore from qualified institutional investors was permitted by the board of Zomato. This judgment was approved at the same time as its tough competitor Swiggy went public.
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