Unicommerce revenue up 52% at Rs 90 cr in FY23, marks third year of profit

Gurugram-based company enables end-to-end management of e-commerce operations

Unicommerce, a software-as-a-service company for the e-commerce industry, reported its revenue from operations grew 52.5 per cent year-on-year (YoY) to Rs 90.06 crore in Financial Year 2022-23 (FY23) compared to Rs 59.03 crore the previous year.

The company’s net profit after tax (PAT) increased from Rs 5.9 crore in FY22 to Rs 6.4 crore in FY23, according to filings with the Registrar of Companies. The company was PAT positive for the third year in a row.

Unicommerce’s parent entity, AceVector, owns Snapdeal and Stellaro Brands.

Unicommerce's free cash flows (FCF) increased from Rs 7.82 crore in FY22 to Rs 14.57 crore in FY23, an 86 per cent jump that helped it absorb higher operating costs. Expenses increased from Rs 54.4 crore in FY22 to Rs 84.1 crore in FY23 due to employee, server and office-related expenses.

 

Employee benefit expenses were the biggest cost element for the company, accounting for 74 per cent of the total expenditure. The increase in employee costs also included Rs 2.17 crore of share-based payment transactions.

Also Read: Travel credit card startup Scapia raises $23 mn to expand business

In FY22, the company clocked a fast 47.5 per cent growth in operating revenue – growing from Rs 40 crore in FY21 to Rs 59 crore in FY22. In FY23, this growth in revenue increased to 52.5 per cent – from Rs 59.03 crore in FY22 to Rs 90.06 crore in FY23.

Apart from India, Unicommerce also has operations in Indonesia, Philippines, Singapore, Malaysia, United Arab Emirates and Saudi Arabia. Its clients include Edamama, RedTag, RSA Global, and Airspeed. Unicommerce’s income from international operations more than tripled, accounting for 2.7 per cent of its operating revenue during FY23.

The Gurugram-based company, which was established in 2012, enables end-to-end management of e-commerce operations for direct-to-commerce brands, retail companies, and other online sellers through its suite of SaaS-based technology products.

Also Read: Funding winter for Indian startups likely to end by March: Experts

The company counts e-commerce retailers like Myntra and Lenskart, beauty and personal care brands like MamaEarth, Sugar, MCaffeine, fashion brands like TCNS (W, Aurelia), Jack & Jones, Vero Moda), electronics brands like BoAT and large FMCG players such as Marico and Emami amongst its clients.