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The Hindu
3 days ago
- Business
- The Hindu
Rupee strengthens 11 paise to close at 85.68 against U.S. dollar
The rupee pared initial losses and appreciated 11 paise to close at 85.68 (provisional) against the U.S. dollar on Friday (June 6, 2025), after the Reserve Bank cut the repo rate by a higher-than-expected 50 basis points to prop up growth. Forex traders said the rupee traded on a flat-to-positive note as the RBI surprised the market with a jumbo rate cut. Besides, the rate cut supported by a phased 100 basis points CRR reduction will lower the borrowing costs and boost growth. Moreover, a surge in the domestic markets supported the rupee at lower levels, with both the indices settling with gains of over 1%. At the interbank foreign exchange, the domestic unit witnessed heavy volatility. It opened at 85.91, registering a fall of 12 paise over its previous close. But soon pared the losses and saw an early high of 85.66 against the greenback. During Friday's (June 6, 2025) trade, the rupee also saw an intraday low of 86 and finally settled for the day at 85.68, up 11 paise over its previous close. On Thursday (June 5, 2025), the rupee snapped its two-day losing streak and closed 8 paise higher at 85.79 against the U.S. dollar. The RBI slashed the interest rate by 50 basis points on Friday (June 6, 2025), a third consecutive reduction, and unexpectedly reduced the cash reserve ratio (CRR) for banks to provide a major liquidity fillip to support the economy amid geopolitical and tariff headwinds. The central bank retained the GDP growth projection for the current fiscal year at 6.5%. It also changed its monetary policy stance to 'neutral' from 'accommodative', with Malhotra saying further action will depend on incoming data. 'The RBI policy decision today was pre-emptive and precise. The surprise CRR cut of 100bps despite a significantly high surplus liquidity signals a strong intent to fast-track transmission while the change in stance back to neutral reflects possible pause on future rate cuts,' Anurag Mittal, Head of Fixed Income at UTI AMC said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.25% at 98.98. Brent crude, the global oil benchmark, fell 0.26% to $65.17 per barrel in futures trade. 'Any further rate cut by the RBI may also pressurise the rupee. However, a positive tone in the domestic markets may support the domestic currency at lower levels. Investors may now focus on the non-farm payrolls report from the U.S. USD-INR spot price is expected to trade in a range of 85.40 to 86.25,' said Anuj Choudhary — Research Analyst at Mirae Asset Sharekhan. On the domestic equity market front, the 30-share benchmark index Sensex recovered the initial lost ground and closed 746.95 points, or 0.92% higher at 82,188.99, while the Nifty settled 252.15 points or 1.02% up at 25,003.05. Foreign institutional investors (FIIs) sold equities worth ₹208.47 crore on a net basis on Thursday (June 5, 2025), according to exchange data.
Business Standard
06-05-2025
- Business
- Business Standard
Unicommerce eSolutions spurts after good Q4 outcome
Unicommerce eSolutions soared 7.20% to Rs 136.30 after the company's consolidated net profit rose 16.4% to Rs 3.35 crore on 70.6% increase in net sales to Rs 45.27 crore in Q4 March 2025 over Q4 March 2024. On a consolidated basis, the company's adjusted EBITDA increased by 98.1% year-on-year (YoY) to Rs 8.88 crore in Q4 March 2025. Adjusted EBITDA margins increased by ~271 bps YoY to 19.6%, up from 16.9% in Q4 FY24. For the full year, net profit rose 34.3% to Rs 17.62 crore while net sales rose 30.1% to Rs 134.79 crore in the year ended March 2025 over the year ended March 2024. Adjusted EBITDA increased by 56.3% YoY to Rs 28.39 crore in FY25. Adjusted EBITDA margins increased by ~353 bps YoY to 21.1%, up from 17.5% in FY24. At the end of Q4 and FY25, the company's Annual Recurring Revenue stood at Rs 181.10 crore, reflecting a growth of ~70.6% YoY. Unicommerce added more than 125 enterprise clients to Uniware in Q4 FY25 its highest-ever quarterly addition. These clients include prominent brands such as Tata 1MG, Duroflex, Reid & Taylor, and Ethos, along with innovative brands featured on Shark Tank India, such as FAE Beauty and KIWI Kisan. Kapil Makhija, managing director & CEO said, "We conclude FY25 marking a significant milestone first, the 100% acquisition of Shipway Technology has been approved by our board and our shareholders, and second, reaching Adjusted EBITDA breakeven for Shipway. The broader macro-environment continued to remain muted in FY25. Despite the headwinds, our Net Revenue Retention (NRR) for Uniware, which is measured as revenue growth in FY25 from clients active in FY24, stood at 103%. While the broader industry trend of slower e-commerce growth resulted in drop in NRR from 108% in FY24 to 103% in FY25, we remained focused on our core execution levers maintaining a 100%+ NRR from existing clients, scaling new client acquisitions and expanding our cross-sell footprint, particularly for Shipway. Looking ahead to FY26, we remain committed to disciplined execution with a focus on revenue growth, operational efficiency, and sustained profitability." Anurag Mittal, chief financial officer said, "Our cash and bank balance stood at INR 353.0 Mn as of March 25, compared to INR 690.1 Mn as of March 24. The year-on-year change reflects the cash outflow of INR 684 Mn for the acquisition of 'Shipway Technology'. Net cash flow from operations improved to INR 279.6 Mn in FY25, up from INR 61.7 Mn in FY24. As we move into FY26, we are focused on further strengthening the Uniware platform and fully leveraging the Shipway acquisition. We have consistently delivered strong performance over the years and expect to sustain this momentum, driven by operating leverage and growing profitability in our Uniware business, while Shipway is expected to contribute meaningfully to growth." Unicommerce eSolutions is a leading e-commerce enablement Software-as-a-Service ("SaaS") platform that enables end-to-end management of e-commerce operations for brands, marketplaces, and logistics service provider firms.
