- BlackBuck's Q2 consolidated net profit rose 42.8% to Rs 41.4 crore year-on-year
- Revenue increased 55.6% to Rs 235 crore, with EBITDA up 41.7% to Rs 51 crore
- Core business revenue grew 31% to Rs 161.39 crore despite seasonal weakness
BlackBuck Ltd reported a 42.8% year-on-year rise in consolidated net profit to Rs 41.4 crore for the September quarter, compared with Rs 29 crore a year earlier, according to an exchange filing on Thursday.
Revenue increased 55.6% to Rs 235 crore from Rs 151 crore a year ago. Ebitda rose 41.7% to Rs 51 crore from Rs 36 crore in the year-ago period. However, the Ebitda margin contracted to 21.7% from 23.8% a year earlier, it added.
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Core Business Revenue Grows 31%
As per the investor presentation filed by the company, the core businesses, comprising payments and telematics, grew 31% year-on-year in the September quarter, despite the period being seasonally weak. Revenue from these businesses stood at Rs 161.39 crore.
Revenue from growth businesses surged 166% to Rs 73.94 crore. The company attributed the growth in its Superloads business to AI-driven productivity gains in existing cities and expansion into new markets. Its vehicle finance business is progressing towards Ebitda break-even, supported by growth in assets under management and a steady cost base.
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Customer Base And Tolling Activity Expand
BlackBuck's average monthly transacting truck operators increased 13% year-on-year to 8.95 lakh in the September quarter. Monthly transacting users accessing at least two services rose 19% to 4.77 lakh.
The gross transaction value of tolling grew 17% to Rs 7,070 crore, while the number of tolling transactions increased 12% to 17.41 crore. The company also reported a significant increase in BlackBuck FASTag issuances and said its telematics business reached new highs in device sales.
BlackBuck said its core businesses continued to generate operating cash flows, while investments in customer acquisition and the Superloads business contributed to a 36% increase in total expenses.
Share Price Performance
Shares of Blackbuck declined post the Q2 result announcement, even after a significant rise in revenue and profitability. At 3:25 p.m., the stock is trading at Rs 558 apiece on the NSE, down around 2.4% from its previous close at Rs 572.3.
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