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Blackbuck’s revenue continues to shrink in third consecutive fiscal

Entrackr · 1y

Online trucking platform Blackbuck has experienced a decline in revenue for its third consecutive fiscal year. Disruptions caused by the COVID-19 pandemic led to a complete loss of revenue for the company. In the fiscal year ending March 2023, the company's revenue dropped to Rs 704 crore, a significant decrease from Rs 2,235 crore in FY20. Blackbuck provides B2B logistics solutions for long-haul trucking and serves large companies and MSMEs. Despite efforts to reduce costs, the company posted a loss of Rs 290 crore in FY23. The road to recovery seems challenging for Blackbuck amid intense competition and funding disparities with its competitors.