IPO-bound logistics startup BlackBuck posted a web revenue of INR 28.67 Cr in Q1 FY25 as towards a web lack of INR 35.93 Cr within the year-ago interval
Income from operations jumped practically 55% to INR 92.16 Cr within the reported quarter from INR 59.46 Cr in the identical quarter final 12 months
Earlier in the present day, Inc42 reported that BlackBuck has filed a crimson herring prospectus (RHP) to boost as a lot as INR 1,114.72 Cr through its preliminary public providing (IPO)
IPO-bound logistics startup BlackBuck
posted a web revenue of INR 28.67 Cr within the June quarter of the monetary 12 months 2024-25 (Q1 FY25) on the again of sturdy progress in its income and sharp discount in its general bills.
The Flipkart-backed firm had reported a web lack of INR 35.93 Cr within the corresponding quarter final 12 months.
Income from operations jumped practically 55% to INR 92.16 Cr within the reported quarter from INR 59.46 Cr in the identical quarter final 12 months.
Together with different earnings, BlackBuck’s complete income rose to INR 98.33 Cr in Q1 FY25, up practically 53% from INR 64.35 Cr within the year-ago interval.
The corporate managed to chop its general spending to INR 91.52 Cr within the quarter ended June 2024, a 6.2% decline from INR 97.65 Cr within the corresponding quarter final 12 months.
BlackBuck spent INR 39.19 Cr in direction of worker advantages expense within the reported quarter, nearly 26% decrease than INR 52.9 Cr within the year-ago interval. In the meantime, different bills surged over 32% to INR 44.61 Cr in the course of the interval, in comparison with INR 33.78 Cr in Q1 FY24.
Based in 2015 by Rajesh Kumar Naidu Yabaji, Chanakya Hridaya and Ramasubramanian Balasubramaniam, BlackBuck operates an internet B2B market for inter-city full truck load (FTL) transportation. Its platform offers cost choices, load market, and automobile financing companies to truck operators within the nation.
It claims to be the most important on-line trucking platform in India, accounting for 27% market share of all truck operators.
The startup has raised greater than $360 Mn in funding until date. Notably, BlackBuck entered the unicorn club in 2021 after raising $67 Mn in a spherical led by Tribe Capital, IFC Rising Asia Fund and VEF to enter the unicorn membership in 2021.
Earlier in the present day, Inc42 reported that BlackBuck has filed a crimson herring prospectus (RHP) to boost as a lot as INR 1,114.72 Cr through its preliminary public providing (IPO). The BlackBuck IPO is a mix of recent issuance of fairness shares price INR 550 Cr and a proposal on the market of two.06 Cr shares by a number of present shareholders, together with Peak XV and Accel India.
Peak XV and Accel-backed BlackBuck has set a worth band of INR 259 to INR 273 per fairness share for its upcoming IPO.
The general public subject will open for subscription on November 13 and conclude on November 18. The anchor ebook for BlackBuck’s IPO is slated to open for sooner or later on November 12.