BlackBuck Shares Locked In 5% Upper Circuit For 5th Day

SUMMARY

The company’s shares are trading at INR 510.85 on the BSE today, 5% up from its previous close of INR 486.55 on February

The stock rallied 40% in the last nine trading sessions, ending in green all times

BlackBuck has been locked in the upper circuit since February 4, a day before the company released its financials for Q3 FY25

Shares of Zinka Logistics Solutions Ltd, the parent company of logistics major BlackBuck are locked in the 5% upper circuit today (February 10) for the fifth consecutive session.

The company’s shares are trading at INR 510.85 on the BSE today, 5% up from its previous close of INR 486.55 on February 7.

The stock rallied 40% in the last nine trading sessions, ending in green all times. With a rise in its share price, the market capitalisation stood at INR 9,015 Cr today.

BlackBuck has been locked in the upper circuit since February 4, a day before the company released its financials for the third quarter of the current financial year (Q3 FY25).

The company’s consolidated net loss zoomed 145% to INR 48.03 Cr in Q3 FY25 from INR 19.57 Cr in the year-ago quarter on account of an exceptional loss. The company went public last year and incurred an IPO expense of INR 8.45 Cr and a share-based payment expense of INR 69.44 Cr in the reported quarter.

However, its operating revenue surged 41% to INR 113.98 Cr in Q3 FY25 from INR 80.86 Cr in the corresponding quarter last year. On a quarter-on-quarter basis, it grew 15% from INR 98.77 Cr.

Despite the hit to its bottom line, BlackBuck’s adjusted EBITDA skyrocketed 459% year-on-year to INR 42.04 Cr during the quarter under review.

Founded in 2015 by IIT Kharagpur alumni Rajesh Yabaji and Chanakya Hridaya, along with Rama Subramaniam, BlackBuck is a B2B marketplace for inter-city full truckload (FTL) transportation. It connects truck operators with businesses with shipping requirements in real time through its tech-enabled platform.

While BlackBuck started its journey as a truck aggregator, it has since shifted its focus to selling value-added services such as FASTag, fuel cards, vehicle tracking software, subscriptions and loans.