AceVector narrows operating loss as revenue growth outpaces costs
The operating margin improved 9.22 percentage points sequentially, but higher interest and a tax charge kept the company in a net loss.
Filed 26 Oct 2026, 18:27 IST · after market close · ACEVECTOR (ACEVECTOR)
Key takeaways
- Consolidated revenue rose 12.57% sequentially while expenses increased 3.71%, narrowing the operating loss.
- Operating margin improved by 9.22 percentage points to -7.72%, although interest expense rose 85.61% sequentially.
- The company still reported a consolidated net loss of Rs 17.60 cr, with a 1.45% tax charge despite a pre-tax loss.
Revenue growth reduced the operating loss
AceVector's consolidated revenue grew 12.57% sequentially, while expenses rose 3.71%. That gap narrowed the operating loss and lifted operating margin by 9.22 percentage points from Q1FY27. Net loss narrowed 30.60% sequentially, but the company remained loss-making.
Interest and tax limited the improvement
Interest expense increased 85.61% sequentially, adding pressure below the operating line. The reported tax rate moved down 9.40 percentage points to -8.96%, reflecting a tax charge of Rs 1.45 cr despite the pre-tax loss. Other income represented -8.11% of pre-tax profit, so it did not materially offset the loss.
Management links profitability pressure to investment and logistics
Management said targeted marketing investments ahead of the festive season and temporary logistics cost pressure at Snapdeal affected profitability. The presentation said Snapdeal's units grew 60% year on year in the first half of October, while Unicommerce added 121 enterprise clients in Q2FY27. Management also said it expects festive volumes to increase in Q3FY27 and that growth should increase gradually in H2FY27 and beyond.
Results were filed after the market closed
The results were filed after market close, so there is no post-results stock reaction to assess. Sequentially, the operating margin improved from -16.94% in Q1FY27 to -7.72% in Q2FY27, but the available trend covers only one prior quarter rather than a longer direction.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹151 cr | ₹134 cr | +12.57% |
| Other income | ₹1 cr | ₹2 cr | -26.82% |
| Expenses | ₹163 cr | ₹157 cr | +3.71% |
| Operating profit | ₹-12 cr | ₹-23 cr | +48.70% |
| Operating margin (%) | -7.72% | -16.94% | — |
| Interest | ₹3 cr | ₹1 cr | +85.61% |
| Depreciation | ₹3 cr | ₹3 cr | +2.88% |
| Profit before tax | ₹-16 cr | ₹-25 cr | +36.59% |
| Tax | ₹1 cr | ₹-0 cr | — |
| Net profit | ₹-18 cr | ₹-25 cr | +30.60% |
| EPS (₹) | ₹-0.48 | ₹-0.62 | +22.58% |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Snapdeal’s units grew 60% year on year in the first half of October during the early festive period.
- Uniware added 121 enterprise clients in Q2 FY27, including United Colors of Benetton, Amul Macho and Furlenco.
Guidance & outlook
- The company expects festive volumes to increase in Q3 FY27 because festive buying falls in that quarter this year.
- Unicommerce expects growth to increase gradually in H2 FY27 and beyond as it acquires clients and expands its offering.
- Unicommerce’s medium-term ambition is to repeat fivefold growth and achieve a multifold increase in profits.
- Snapdeal expects ASP to remain around ₹400 and intends to maintain contribution margin at around 10% of NMV.
- Shipway is expected to return to Adjusted EBITDA profitability in Q3 FY27 after its planned investment phase.
Expansion
- Unicommerce plans to explore related acquisitions that add capabilities and scale while maintaining a focus on profitability.
New products
- Unicommerce launched DNA, its second-generation AI companion for identifying operational signals and enabling corrective actions.
New initiatives
- Snapdeal partnered with YouTube Shopping to convert its creator-led social reach into revenue growth.
- Unicommerce is using AI across product development, engineering, onboarding, support, sales and marketing to improve productivity.
Competition
- Unicommerce identifies a leadership position in its core Uniware business as support for future growth.
Problems & risks
- AceVector’s profitability was affected by targeted marketing investments and temporary logistics cost pressures at Snapdeal.
- Higher fuel prices and supply chain disruptions temporarily increased Snapdeal’s logistics costs in Q1 FY27.
- Unicommerce faced industry demand headwinds last year while focusing on client acquisition, cross-selling and AI-led innovation.
What to watch
- Whether operating margin improves further from -7.72% in Q2FY27.
- Whether interest expense reverses from its 85.61% sequential increase.
- Whether Q3FY27 festive volumes reflect the 60% year-on-year early-October unit growth cited by management.