Shiprocket posts narrower loss in first quarter
Temasek-backed Indian logistics company Shiprocket reported a narrower consolidated loss of 137.1 million rupees for the quarter ended June. The results mark its first earnings report since its August initial public offering.
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India logistics firm Shiprocket reported a consolidated first-quarter loss of 137.1 million rupees ($1.45 million) on Monday morning, narrowing from a loss of 180.3 million rupees a year earlier. The results mark the company's first earnings report since its $170 million IPO in August. Core shipping profitability drove the improvement, helping offset ongoing investments in emerging segments.
