Shares of Unicommerce rallied more than 12% to INR 232 apiece on the BSE in Friday’s intraday deals
This comes ahead of the enterprise tech startup’s first quarter earnings for the financial year 2024-25 (Q1 FY25), which are scheduled to be released today (August 30)
Unicommerce made a strong stock market debut earlier this month, with its shares listing at a premium of almost 113% on the BSE
Shares of Unicommerce
rallied more than 12% to INR 232 apiece on the BSE in Friday’s intraday deals. This comes ahead of the enterprise tech startup’s first quarter earnings for the financial year 2024-25 (Q1 FY25), which are scheduled to be released today (August 30).
The stock opened at INR 208.05 per share on the BSE today, up 0.6% from the previous close.
After jumping over 12% in early trading hours, the stock shed some of the gains and by 12:28 PM, it was trading 8.2% higher at INR 223.8 apiece on the BSE.
More than 80 Lakh shares of Unicommerce had changed hands on the NSE and the BSE by the time of publishing this article.
It is pertinent to note that shares of Unicommerce listed on Indian bourses earlier this month. The stock made a strong debut on the BSE, listing at a premium of almost 113% over the IPO issue price.
The stock debuted at INR 230 per share on the BSE against the issue price of INR 108 apiece.
Unicommerce’s public issue received an overwhelming response from investors, having been oversubscribed 168.3X on the final day of the bidding.
Founded in 2012, Unicommerce is an ecommerce SaaS startup that helps businesses manage inventory across all online marketplaces. It claims to be the largest ecommerce enablement SaaS platform in transaction processing in terms of revenues (in FY23).
Unicommerce posted a more than 2X jump in its net profit at INR 13.1 Cr in the financial year 2023-24 (FY24) from INR 6.5 Cr reported in the previous year.
The startup, backed by AceVector (formerly Snapdeal), saw its revenue from contracts with customers or operating revenue rise 15% to INR 103.58 Cr in the reported fiscal as against INR 90.06 Cr in FY23.
In that, revenue from contracts with customers outside India increased over 54% year-on-year (YoY) to INR 3.8 Cr.
Total income stood at INR 109.4 Cr in FY24 as against around INR 93 Cr in the previous fiscal.
