Shares of Zinka Logistics Solutions Ltd. remained locked in the 5% upper circuit for the second consecutive session on February 6, with only buyers in the trade and no sellers. The stock has been on an upward trend despite the company reporting a widened net loss of ₹48 crore in Q3 FY25, compared to ₹19.5 crore in the same quarter last year. Sequentially, the company had posted a much higher loss of ₹269 crore in the July-September quarter.
However, Zinka Logistics showed strong revenue growth, with operations surging 41% year-on-year to ₹113.9 crore in Q3, compared to ₹80 crore in the year-ago period.
At 12:18 pm, BlackBuck’s price was locked at a level of ₹466.2 a share, 5% high on NSE. BlackBuck’s price rose 40% in eight trading sessions beginning January 28, closing in positive territory in each session.
Brokerage firm JM Financial mentioned that BlackBuck’s earnings surprised estimates, backed by strong adjusted EBITDA margin and recurring sources of revenue. The brokerage maintained a ‘buy’ rating with a target price of ₹580 a share.
BlackBuck’s revenue grew at a compound annual growth rate (CAGR) of 63% over FY22-24, becoming EBITDA positive in H2FY24. JM Financial expects the company to maintain its pace with a 37% CAGR in its revenue in FY24 to FY27.
Zinka Logistics, through its BlackBuck platform, remains India’s largest digital platform for truck operators with 413.34 million transactions and a 27.52% market share in the segment. Tolling, fueling, tracking of fleets, and load matching form its principal offerings.
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Source: Moneycontrol.
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