HomeStartupBlackbuck’s revenue continues to shrink in third consecutive fiscal

Blackbuck’s revenue continues to shrink in third consecutive fiscal

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Covid-19 eats up over 60% of BlackBuck income in FY21
  1. Blackbuck faced a drastic decline in revenue from Rs 2,235 crore in FY20 to Rs 704 crore in FY23, largely attributed to pandemic disruptions affecting its operations.
  2. In FY23, the company’s revenue from operations dropped by 15.5% to Rs 704 crore compared to Rs 833 crore in FY22, as reported in the Registrar of Companies’ consolidated financial statements.
  3. The majority (71%) of Blackbuck’s operating revenue came from transportation cum logistics services, which decreased by 23.5% to Rs 500 crore in FY23 from Rs 654 crore in FY22. Other revenue sources included commissions, telematic services, subscriptions, and onboarding services.
  4. Despite cost-cutting efforts, Blackbuck reported flat losses in FY23, amounting to Rs 290 crore, similar to Rs 285 crore in FY22. The company’s financial metrics showcased negative Return on Capital Employed (ROCE) at -76% and negative EBITDA margins at -36%, indicating significant financial challenges.
SourceEntrackr

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