Shiprocket posts maiden profit of Rs 60 lakh in Q2
In short
Shiprocket posted a profit of Rs 60 lakh in the quarter ended September 30, after losing Rs 20.29 crore a year earlier. The company’s core business grew strongly, helping drive the turnaround.
Investors and market watchers will see it as a sign that the business is improving.
What the reporting says
Shiprocket swung to a profit of Rs 60 lakh in the quarter ended September 30, compared with a loss of Rs 20.29 crore a year earlier. The result was reported by ETtech and is linked to stronger core business growth. The turnaround marks the company’s first profit after the prior-year loss.
Why it matters
Shiprocket reported its maiden profit of Rs 60 lakh for the quarter ended September 30, versus a loss of Rs 20.29 crore a year earlier. The profit was tied to stronger core business growth, according to the ETtech summary. The turnaround is important for the company and its investors because it suggests improved operating performance after a period of losses.