AceVector, the parent company of e-commerce platform Snapdeal, has reported its first quarterly results since its listing earlier this month. The company’s revenue rose 17% year-on-year to cross Rs 150 crore in Q2 FY27, while its losses stood at Rs 17.6 crore.
According to its unaudited quarterly results, AceVector’s operating revenue stood at Rs 151.2 crore in Q2 FY27, compared with Rs 129.3 crore in the corresponding quarter last year.
Snapdeal’s marketplace business accounted for the largest share of AceVector’s operating revenue at 57%, with revenue of Rs 86.2 crore, up 15% year-on-year. Its e-commerce enablement SaaS platform, Unicommerce, contributed Rs 59 crore, while consumer brands added Rs 6 crore to operating revenue.
Including Rs 2.6 crore in non-operating income, AceVector’s total income stood at Rs 153.8 crore in Q2 FY27.
For the first half of FY27, AceVector’s consolidated revenue grew 17% year-on-year to Rs 285.5 crore, supported by growth across Snapdeal and Unicommerce. Snapdeal’s revenue rose 15% to Rs 164.4 crore, while Unicommerce recorded a 15% increase to Rs 110.4 crore.
Snapdeal’s fashion net merchandise value (NMV) rose 31% year-on-year to Rs 407.6 crore in H1 FY27. Its annual transacting customer base grew 12% to 130.8 lakh, while app-delivered units increased 23% to 133.6 lakh. During the period, the company also launched an AI solutions suite for customers, sellers and creators, with features for product discovery, personalised recommendations and seller support.
Logistics expenses remained AceVector’s largest cost at Rs 71.4 crore, up 20% year-on-year. The expense accounted for over 42% of its total expenditure. Employee benefit expenses stood at Rs 46 crore during the quarter.
AceVector’s total expenditure rose over 21% year-on-year to Rs 168.7 crore in Q2 FY27 from Rs 138.7 crore in the year-ago quarter. The faster growth in expenses compared with revenue led to an 85% increase in losses to Rs 17.6 crore, which included Rs 1.3 crore in exceptional items.
AceVector made a weak stock market debut on the stock market, with its shares listed at an 11.5% discount to the IPO price of Rs 32. The stock opened at Rs 28.32 on the NSE and Rs 28.30 on the BSE, despite the Rs 420 crore IPO receiving around 5 times subscription.
The issue comprised a fresh issue of Rs 287 crore and an offer for sale (OFS) of Rs 133 crore, with a price band of Rs 30 to Rs 32 per share.
At the end of Monday’s trading session, AceVector’s shares closed at Rs 20.92, with a total market capitalization of Rs 1,138 crore.