The company incurred a share based payment expense of INR 320.74 Cr during the quarter under review
BlackBuck sold its sold its corporate freight business during the quarter under review and made a profit of INR 38.92 Cr from the discontinued operations
Revenue from operations rose 56% to INR 98.77 Cr in Q2 FY25 from INR 63.37 Cr in the year-ago quarter
Logistics company BlackBuck
slipped into the red in the September quarter of fiscal year 2024-25 (Q2 FY25) due to an exceptional loss. In its first financial disclosure post listing, the Flipkart-backed company reported a net loss of INR 308.38 Cr from continuing operations, about 7.8X from INR 39.67 Cr loss it registered in the year ago quarter.
The company incurred a share based payment expense of INR 320.74 Cr during the quarter under review. Without the exceptional item, the company would have posted a profit of over INR 12 Cr from its continuing operations.
It is pertinent to mention that the company sold its corporate freight business during the quarter under review. It made a profit of INR 38.92 Cr from the discontinued operations, including the gain on sale of the business.
BlackBuck had posted a net profit of INR 32.38 Cr in the quarter ended June from its continuing operations.
The company’s revenue from operations rose 56% to INR 98.77 Cr in Q2 FY25 from INR 63.37 Cr in the year-ago quarter. Sequentially, revenue increased 7% from INR 92.16 Cr.
The company managed to cut its expenses to INR 91.78 Cr in the quarter ended September 2024, a decline of 15% from INR 107.38 Cr in Q2 FY24.
(The story will be updated soon.)
