Delhi-NCR-based logistics unicorn Shiprocketra reported a 20.8 per cent increase in revenue to Rs 1,316 crore from Rs 1,089 crore in the financial year ended March 31, 2024.

The company's first two quarters of this financial year (ending September 2024) have also been profitable. The company expects to make more profit in the next financial year.

The company reported a 50% reduction in total cash EBITDA burn for FY2024 from Rs 191 crore in FY23 to Rs 100 crore in FY24.

However, there was a 74.4 per cent decline in growth from the bottom of the start-up. The loss has increased from Rs 341 crore in FY 2023 to Rs 595 crore in FY 2024. The increase in losses is mainly due to restructuring related to the acquired companies and accounting amalgamation of Rs 244 crore. In addition, ESOP issues amounting to Rs 192 crore, investments in high-end businesses, overheads, among others, also contributed to the losses, the company said.

Founded in 2017 by Sahil Goyal, Vishesh Khurana, Akshay Gulati, and Gautam Kapoor, ShipRocket is an aggregator of third-party logistics companies. In addition, the company has partnered with 17 carrier partners including Delhivery, FedEx, Aramex, ExpressBees, DTDC, and Shadowfax.