BENGALURU, February 5, 2025 – Zinka Logistics Solutions Limited (NSE: BLACKBUCK, BSE: 544288) reported its
unaudited financial results for the quarter and nine months ended December 31, 2024. The company's board approved the financials, which include standalone and consolidated statements.
Key Financial Highlights (Standalone)
Quarterly Performance (Q3 FY25 vs. Q2 FY25 vs. Q3 FY24)
(All figures in ₹ Million, unless stated otherwise)| Particulars | Q3 FY25 | Q2 FY25 | Q3 FY24 |
|---|
| Revenue from Operations | 1,125.10 | 976.26 | 803.15 |
| Other Income | 89.12 | 53.75 | 40.69 |
| Total Income | 1,216.41 | 1,030.01 | 912.09 |
| Total Expenses | 919.58 | 909.56 | 978.55 |
| EBITDA | 296.83 | 120.45 | (66.46) |
| Exceptional Items | (778.94) | (3,207.40) | 0.00 |
| Profit/(Loss) Before Tax | (482.11) | (3,086.95) | (66.46) |
| Net Profit/(Loss) | (482.11) | (2,697.79) | (197.58) |
| EPS (₹) - Basic & Diluted | (2.81) | (17.20) | (1.07) |
The company reported a
quarterly revenue of ₹1,125.10 million, reflecting
15.2% QoQ growth and
40.1% YoY growth, indicating an improving revenue trajectory. However,
net loss for the quarter stood at ₹482.11 million, significantly improved from
₹2,697.79 million in Q2 FY25 but higher compared to
₹197.58 million in Q3 FY24.
Segment-Wise Performance (Consolidated)
Revenue Breakdown
- Truck Operator Services: ₹1,125.10 million (up from ₹976.26 million in Q2 FY25)
- Lending Business (BlackBuck Finserve Private Limited): ₹15.82 million (up from ₹14.36 million in Q2 FY25)
Nine-Month Performance (9M FY25 vs. 9M FY24)
| Particulars | 9M FY25 | 9M FY24 |
|---|
| Revenue from Operations | 3,015.88 | 2,031.48 |
| Other Income | 203.23 | 132.93 |
| Total Income | 3,221.09 | 2,164.41 |
| Net Profit/(Loss) | (2,896.88) | (1,037.22) |
| EPS (₹) - Basic & Diluted | (16.06) | (5.64) |
For the nine-month period,
revenue surged 48.4% YoY, driven by the company's expansion in logistics services. However, the company recorded a
net loss of ₹2,896.88 million, primarily due to
exceptional expenses and share-based payment charges.
Exceptional Items Impact
The company's
exceptional losses for Q3 FY25 stood at
₹778.94 million, comprising:
- IPO-related expenses: ₹84.53 million
- Share-based payment expenses: ₹694.41 million
These charges significantly impacted profitability but are
one-time costs related to the company’s recent
IPO and restructuring.
IPO Utilization & Financial Position
Zinka Logistics Solutions successfully
completed its IPO in November 2024, raising
₹1,114.72 crores.
Utilization of IPO Proceeds (as of December 31, 2024)
| Utilization Area | Allocation (₹ Cr) | Utilized (₹ Cr) | Unutilized (₹ Cr) |
|---|
| Sales & Marketing | 200.00 | 200.00 | 0.00 |
| Investment in BlackBuck Finserve NBFC | 140.00 | 0.00 | 140.00 |
| Product Development | 75.00 | 75.00 | 0.00 |
| General Corporate Purposes | 135.00 | 94.22 | 40.78 |
As of
December 31, 2024, the company still holds
₹4,230 million in fixed deposits from IPO proceeds for future expansion.
Management Commentary
Rajesh Kumar Naidu Yabaji, Chairman & CEO, stated:
"We are witnessing strong revenue momentum, with a significant 40% YoY growth in Q3. While exceptional costs, particularly share-based payments and IPO expenses, impacted our bottom line, these are non-recurring. Moving forward, we are focused on scaling our marketplace operations and optimizing cost structures to enhance profitability."
Strategic Outlook
- Revenue Growth: Continued expansion in logistics and fintech services.
- Profitability Focus: Cost optimization and reduced share-based expenses post-IPO.
- Market Expansion: Investment in BlackBuck Finserve to support financing needs for truck operators.
- Capital Allocation: Efficient deployment of IPO proceeds to maximize long-term shareholder value.
Conclusion
Zinka Logistics Solutions (BlackBuck) reported
robust revenue growth but continues to face profitability challenges due to exceptional costs. With a
clear focus on expansion and financial discipline, the company is poised for
long-term growth in the logistics-tech sector.
