BlackBuck reported consolidated revenue from operations of ₹235.33 crore for the second quarter of fiscal 2027, marking a 55.7% year-on-year increase from ₹151.14 crore in the same period last year. According to Inc42, the company’s net profit rose 41.8% to ₹41.4 crore, while total income, including other income, increased 51.4% to ₹253.15 crore. The financial results indicate a significant acceleration in the company's top line, driven by its expanding portfolio of digital logistics services.
The growth in revenue is not limited to BlackBuck’s established operations. Inc42 reported that revenue from the core Payments and Telematics businesses grew 31% to ₹161.39 crore. In contrast, the company’s newer growth businesses, which include Loads Classifieds, SuperLoads, and Vehicle Finance, saw revenue surge 166% to ₹73.94 crore. This shift highlights the company's strategic pivot toward managed freight services and vehicle financing, moving beyond its original role as a marketplace for load discovery.
Despite the revenue jump, operational costs increased substantially. Total expenses rose 64% year-on-year to ₹210.3 crore, with management attributing the rise to customer acquisition efforts and investments in the SuperLoads segment. Inc42 noted that manpower services emerged as the largest individual expense, reaching ₹153.3 crore, while truck hiring charges became a new cost head for the company. The EBITDA for the quarter stood at ₹50.61 crore, and adjusted EBITDA was reported at ₹55.04 crore.
CEO Rajesh Yabaji explained during the earnings call that upfront acquisition costs can temporarily weigh on EBITDA, even as the company expects to recover these investments over the customer lifetime. He stated, “Wherever we see opportunities, we are expanding and gaining more market share.” The core business, which historically delivered operating leverage of 70-85%, saw this metric moderate to around 50% in the current quarter due to increased spending on scaling newer offerings.
The company’s vehicle finance segment, which works primarily through lending partners, is on track to achieve EBITDA break-even in fiscal 2027. Inc42 observed that while the core businesses continue to generate operating cash flows, BlackBuck is using this headroom to scale its newer verticals. The challenge for the company is to ensure that these newer businesses build sustainable economics without diluting the profitability of the established platform.