Since listing on bourses in August, the stock has plummeted over 28%
At the time of writing, the market capitalisation of Unicommerce stood at INR 1,653.80 Cr (around $194.3 Mn)
Unicommerce posted a net profit of INR 4.47 Cr in Q2 FY25 on an operating revenue of INR 29.30 Cr
Shares of SaaS startup Unicommerce
fell nearly 3% in early trading hours today (December 23) to hit an all-time low at INR 161.05 apiece on the BSE.
The company made a stellar market debut in August this year, with its shares listing at INR 230 on the BSE, a 113% premium over the IPO issue price.
However, the stock has been unusually weak in recent months. Unicommerce shares have ended in the red in 9 out of the last 10 trading sessions. Since listing on bourses, the stock has plummeted over 28%.
At the time of writing, the market capitalisation of Unicommerce stood at INR 1,653.80 Cr (around $194.3 Mn).
Founded in 2012 by Karun Singla, Ankit Pruthi and Vibhu Garg, and later joined by Manish Gupta, Unicommerce is an ecommerce SaaS company that helps sellers manage their inventory across all online marketplaces. It offers integrations with all major Indian ecommerce platforms.
The company was acquired by Snapdeal in 2015 for an undisclosed amount.
Shares of Unicommerce have been on a decline since the company informed bourses of its plans to acquire a 42.7% stake in commerce shipping solutions provider Shipway for INR 68.4 Cr last month.
During the company’s earnings call for the September quarter of the financial year 2024-25 (Q2 FY25), investors had raised concerns about the integration challenges that are plaguing mergers and acquisitions in the software industry.
Unicommerce’s net profit rose 21% to INR 4.47 Cr in Q2 FY25 from INR 3.69 Cr in the same quarter last year.
Operating revenue jumped 13% to INR 29.30 Cr during the quarter under review from INR 25.93 Cr in Q2 FY24.
Earlier this month, Inc42 reported that Ajinkya Jain stepped down from his role of company secretary at Unicommerce, citing “personal reasons and commitments.”
Shares of Unicommerce were trading at INR 162 on the BSE at 3:38 PM, 2.06% lower than the previous close.
