BlackBuck (BLACKBUCK) Q4 23/24 earnings summary

Executive summary

• Revenue from continuing operations grew to ₹2,963.84 million for FY24, up from ₹1,756.80 million in FY23, driven by digital platform services for truck operators.

• The company reported a net loss of ₹1,944.97 million for FY24, an improvement from a net loss of ₹2,971.73 million in FY23.

• Discontinued operations (corporate freight business) contributed a loss of ₹269.63 million in FY24, with assets and liabilities classified as held for sale.

• The company completed the liquidation of its Netherlands subsidiary and recognized a loss of ₹3.81 million.

Financial highlights

• Total income from continuing operations was ₹3,154.03 million in FY24, up from ₹1,952.30 million in FY23.

• Employee benefits expense rose to ₹2,867.50 million, including a one-time accelerated ESOP charge of ₹800.45 million due to MSOP plan cancellation.

• Cash and cash equivalents increased to ₹1,537.47 million as of March 31, 2024, from ₹948.79 million a year earlier.

• Net cash inflow from operating activities was ₹576.93 million, compared to an outflow of ₹1,250.50 million in FY23.

• Cash losses for FY24 were ₹167.47 million, a significant reduction from ₹2,189.13 million in FY23.

Outlook and guidance

• Management expects to recognize ₹522.68 million of contract liability as revenue in FY25, with the remainder over the next two years.

• The Board does not foresee material uncertainty regarding the company's ability to continue as a going concern.