Snapdeal owned Unicommerce turns profitable, eyes 150 crore profit in next year
today Aug 23, 2017
Snapdeal-owned Unicommerce, India's largest platform for managing orders & inventory across multiple B2C & B2B channels reported a healthy EBITDA (earnings before interest, tax, depreciation and amortization) margin of 20-25% in the first quarter (April-June 2017), becoming one of the very few start ups in India to achieve full profitability.
“We have had a profitable first quarter and the Unicommerce platform is now used for nearly 20 per cent of the e-commerce transactions in the country,” Unicommerce CEO Kapil Makhija said in a statement.
“We are also exploring select overseas markets apart from India where sellers have expressed interest in adopting the Unicommerce technology solutions,” he said.
Unicommerce is the fastest growing web based multi channel order fulfilment software in the market. It is used by big e-commerce marketplaces like Jabong, Snapdeal, Lazada as well as hundreds of online Sellers.
Unicommerce which also has clients like Myntra, Raymond, Lenskart, Caratlane, PC Jewellers, House of Anita Dongre amongst many others is targeting several brands in India and Middle East to increase its portfolio & eyeing to make a gross profit of Rs 150 crore in the coming year.
E-commerce major Snapdeal (Jasper Infotech Ltd) had acquired Unicommerce for an undisclosed amount in March 2015.
Last month, private-sector lender Axis Bank agreed to acquire Snapdeal’s digital payments platform FreeCharge for about Rs 385 crore ($60 million).
Unicommerce turning profitable and eyeing huge profits next year is a good sign for Snapdeal which looks to revive its falling fortunes in the e-commerce market after a failure to merge with larger rival Flipkart.
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