BlackBuck (BLACKBUCK) Q1 26/27 earnings summary

Executive summary

• Total income for Q1'FY27 reached ₹220.48 Cr, up 38% year-over-year and 10% sequentially, with revenue from operations up 42% year-over-year to ₹204.17 Cr and net revenues up 25%.

• PAT increased 25% year-over-year to ₹42.17 Cr, though declined 36% sequentially; EBITDA rose 23% year-over-year to nearly INR 50 crore, with adjusted EBITDA at ₹54.62 Cr.

• Platform had 900,000 transacting customers, a 13% year-over-year increase, with deeper usage (≥2 services) up 20%.

• Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, with a limited review by statutory auditors confirming no material misstatements.

• BlackBuck Finserve Private Limited classified as a material subsidiary after exceeding 10% of consolidated net worth as of March 31, 2026.

Financial highlights

• Consolidated revenue from operations for Q1 FY27 was Rs. 2,041.68 million, up from Rs. 1,436.10 million in Q1 FY26 and Rs. 1,854.33 million in Q4 FY26.

• Gross transaction value (GTV) for tolling reached ₹7,045 Cr, up 16% year-over-year.

• Contribution margin stood at ₹152.74 Cr, up 25% year-over-year, with a margin of 93%.

• Core businesses (Payments & Telematics) grew 21% year-over-year; growth businesses surged 153%.

• Net profit for Q1 FY27 was Rs. 421.67 million, up from Rs. 336.96 million in Q1 FY26.

Outlook and guidance

• Macro headwinds in tolling normalized by end of Q1; business returned to BAU for tolling, while fueling business recovery is partial and full recovery timeline remains uncertain.

• Vehicle Finance expected to reach profitability by year-end.

• Growth momentum in new cities and productivity gains in existing cities expected to drive future performance.

• 11th AGM scheduled for September 18, 2026, to consider adoption of audited financials, director re-appointment, share capital reclassification, and employee stock option schemes.