IPO-bound Unicommerce’s revenue up 53% at Rs 90 crore in FY23

Snapdeal-owned Unicommerce saw its revenue rise by about 53 percent to Rs 90 crore in FY23 while profit grew 8 percent to Rs 6 crore. The IPO-bound company is on track to hit Rs 120-150 crore in revenue in the ongoing fiscal, according to sources close to the developments.

The company saw an 86 percent jump in its free cash flows (FCF) over the previous fiscal as it increased from Rs 7.82 crore in FY22 to Rs 14.57 crore in FY23. This helped Unicommerce absorb higher operating costs, which increased from Rs 54.4 crore in FY22 to Rs 84.1 crore in FY23, largely on account of an increase in employee benefit expenses, server costs and other office-related expenses.

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

The Gurugram-based company, established in 2012 and acquired by Snapdeal in 2015, enables end-to-end management of e-commerce operations for D2C brands, retail companies, and other online sellers through its comprehensive suite of SaaS-based technology products.