BlackBuck Q2 FY27 Results: Consolidated Net Profit ₹41.40 Crore on Total Income of ₹253 Crore
Earnings
Logistics technology
Blacklitt Research4 min read
BlackBuck (NSE: BLACKBUCK) reported consolidated total income of ₹253.15 crore and net profit of ₹41.40 crore for the quarter ended 30 Sep 2026, it said in a filing on 29 Oct 2026. Standalone total income was ₹248.17 crore and standalone net profit ₹43.72 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹253.15 crore, up 51.4% YoY and 14.8% QoQ
Net profit and EPS: ₹41.40 crore, up 41.8% YoY and down 1.8% QoQ; basic EPS ₹2.27
Depreciation: ₹24.49 crore, up 98.0% YoY from ₹12.37 crore
Standalone
The company on its own, without its subsidiaries
Total income: ₹248.17 crore, up 50.5% YoY and 14.9% QoQ
Net profit and EPS: ₹43.72 crore, up 43.0% YoY and 4.5% QoQ; basic EPS ₹2.39
Tax expense: ₹1.09 crore against ₹9.86 crore a year earlier
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
253.15
167.20
+51.4%
220.48
+14.8%
Revenue from operations
235.33
151.14
+55.7%
204.17
+15.3%
Other income
17.82
16.06
+11.0%
16.31
+9.3%
41.40
29.20
+41.8%
42.17
-1.8%
Profit before tax
42.82
38.94
+10.0%
42.12
+1.6%
Finance costs
1.12
1.27
-11.8%
1.36
-17.7%
Depreciation
24.49
12.37
+98.0%
22.54
+8.7%
Tax expense
1.42
9.75
-85.4%
-1.04
n/a
Net profit margin
16.35%
17.46%
-1.11 pp
19.13%
-2.77 pp
EPS, basic (₹)
2.27
1.60
+41.9%
2.31
-1.7%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit grew more slowly than income. Net profit rose 41.8% year on year to ₹41.40 crore, while total income rose 51.4%.
Revenue from operations rose 55.7% to ₹235.33 crore, faster than other income, which rose 11.0% to ₹17.82 crore. Other income is 7.0% of total income this quarter, but 41.6% of profit before tax. Depreciation doubled from ₹12.37 crore to ₹24.49 crore, and finance costs of ₹1.12 crore are 0.4% of total income.
Against the previous quarter, net profit fell 1.8% while total income rose 14.8%. The tax line swung from a credit of ₹1.04 crore to a charge of ₹1.42 crore. The company's net profit margin was 16.35%, down from 17.46% a year earlier and 19.13% in the previous quarter. The notes do not explain the quarter-on-quarter fall in net profit.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
248.17
164.89
+50.5%
216.01
+14.9%
Revenue from operations
231.84
148.67
+55.9%
201.23
+15.2%
Other income
16.53
16.17
+2.3%
14.78
+11.9%
43.72
30.58
+43.0%
41.85
+4.5%
Profit before tax
44.82
40.44
+10.8%
41.51
+8.0%
Finance costs
0.68
0.53
+29.9%
0.80
-15.0%
Depreciation
24.50
12.33
+98.7%
22.50
+8.9%
Tax expense
1.09
9.86
-88.9%
-0.34
n/a
Net profit margin
17.62%
18.54%
-0.93 pp
19.37%
-1.75 pp
EPS, basic (₹)
2.39
1.68
+42.3%
2.29
+4.4%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 43.0% year on year to ₹43.72 crore, faster than profit before tax, which rose 10.8% to ₹44.82 crore. The tax expense was ₹1.09 crore, against ₹9.86 crore a year earlier, which is 2.4% of profit before tax this quarter.
Standalone revenue from operations rose 55.9% to ₹231.84 crore, while other income rose 2.3% to ₹16.53 crore and is 36.9% of profit before tax. Net profit rose 4.5% from the previous quarter, against 14.9% growth in total income. Basic EPS was ₹2.39, against ₹1.68 a year earlier and ₹2.29 in the previous quarter.
Consolidated net profit of ₹41.40 crore is ₹2.32 crore lower than standalone net profit of ₹43.72 crore.
The results include the consolidated group of BlackBuck Finserve Private Limited, TZF Logistics Solutions Private Limited, ZZ Logistics Solutions Private Limited and BlackBuck Transport Services Private Limited. ZZ Logistics was struck off from the Register of Companies effective 11 May 2026 and derecognised from the consolidated statements. Segment information in the notes shows the truck operator services segment at ₹2,319.62 million of revenue in the quarter, with the lending business at ₹33.68 million.
The auditor BSR & Co. LLP issued an unmodified limited review conclusion on both the standalone and consolidated results. Two subsidiaries were reviewed by other auditors, and their total revenues were ₹56.33 million and ₹106.49 million for the quarter and half year.
Inference
The filing says the Board approved a corporate guarantee of ₹40 crore in favour of Axis Bank Limited for a term loan availed by BlackBuck Finserve Private Limited, a material wholly owned subsidiary, and that the company sees no impact from it at this point. The filing does not say whether the term loan has been drawn or what its terms are beyond the guarantee amount.
The Board also approved a grant of stock options over 34,399 equity shares under ESOP 2016 at an exercise price of ₹1 per share, vesting 25% over four years. The filing does not give the grant date price or the vesting start date.
The company incorporated BlackBuck Transport Services Private Limited on 24 Sep 2026 and executed a Business Transfer Agreement on 12 Oct 2026 to transfer its Loads business to it by slump sale, for consideration based on Net Asset Value. The filing does not state the consideration amount, the reason for the transfer, or its financial effect on results.
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