Blackbuck posts Rs 42.17 cr profit as tax stays near zero
Consolidated operating margin was 24.35%, while other income added to pre-tax profit and the tax charge was a Rs 0.04 cr credit.
Filed 29 Jul 2026, 14:18 IST · Blackbuck Ltd (BLACKBUCK)
Key takeaways
- Blackbuck reported consolidated net profit of Rs 42.17 cr in Q1FY27, with the tax rate at -0.11%.
- Operating margin was 24.35%, matching the median for seven Services peers that had reported.
- Other income of Rs 16.31 cr and near-zero tax supported reported profit in the quarter.
Price around the results
Profit benefited from other income and a tax credit
Blackbuck's consolidated operating profit of Rs 49.71 cr converted into net profit of Rs 42.17 cr after Rs 16.31 cr of other income. The reported tax charge was a Rs 0.04 cr credit, producing a -0.11% tax rate and making net profit higher than profit before tax of Rs 42.12 cr. This makes the quarter's reported profit quality dependent in part on non-operating income and the unusually low tax charge.
Operating margin matched the Services peer median
The 24.35% operating margin was in line with the median for seven Services companies that had reported the same quarter. With no sequential or year-on-year driver data available, the quarter does not establish a margin direction. Expenses were Rs 154.46 cr against revenue of Rs 204.17 cr, while depreciation was Rs 22.54 cr.
AI productivity and Superloads investment shaped the quarter
Management said AI-led productivity gains drove growth for Superloads in existing cities, while momentum was established in new cities. The company said it continued a calibrated step-up in Superloads investment. Management also said Vehicle Finance was continuing to converge towards profitability and that Telematics delivered its highest-ever quarterly sale of new devices.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹204 cr |
| Other income | ₹16 cr |
| Expenses | ₹154 cr |
| Operating profit | ₹50 cr |
| Operating margin (%) | 24.35% |
| Interest | ₹1 cr |
| Depreciation | ₹23 cr |
| Profit before tax | ₹42 cr |
| Tax | ₹-0 cr |
| Net profit | ₹42 cr |
| EPS (₹) | ₹2.31 |
Operating margin of 24.35% compares with a Services sector median of 24.35% across 7 peers that have reported Q1FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Telematics delivered its highest-ever quarterly sale of new devices.
- Superloads grew strongly in existing cities through productivity gains, with momentum established in new cities.
Guidance & outlook
- Vehicle Finance continues to converge towards profitability.
New initiatives
- AI initiatives are driving productivity gains in existing Superloads cities.
- The company continued a calibrated step-up of investments in Superloads.
Problems & risks
- Core businesses grew while navigating industry headwinds.
- Core businesses grew in profitability and operating cash flows despite macro headwinds.
What to watch
- Whether operating margin remains at 24.35% as Superloads investment continues.
- Whether the -0.11% tax rate changes the relationship between profit before tax and net profit.
- Whether other income of Rs 16.31 cr recurs in the next quarter.