The company attributed its strong topline growth to the leveraging of tailwinds in the trucking industry and strong execution excellence, according to a stock exchange filing. The number of average monthly transacting truck operators on the company’s platform rose 14% YoY to 783,399.
Using the company’s platform, their customers (primarily comprising truck operators) digitally manage payments for tolling and fuelling, monitor drivers and fleets using telematics, find loads on their marketplace and get access to financing for the purchase of used vehicles. Truck operators use the BlackBuck mobile application for their diverse business needs.On June 3, as many as 1.63 crore shares, or 9.22% equity, of Zinka Logistics Solutions worth ₹692 crore changed hands at ₹423 per shares. As reported earlier by CNBC-TV18 citing sources, Quickroutes International likely divested its 9% stake in Zinka Logistics.
Furthermore, Accel India IV (Mauritius), an early investor in logistics technology platform BlackBuck’s parent company, Zinka Logistics, also pared its stake by 1.32% through open market transactions on June 3.
Separately, the company’s board of directors in May approved the proposal to change the company’s name from Zinka Logistics Solutions Limited to BlackBuck Limited, subject to shareholders’ and other requisite regulatory approvals. It has secure no objection to the name BlackBuck from the Ministry of Corporate Affairs in June while the process of obtaining shareholder’s approval is pending.
Shares of the company, after reaching a 52-week high at ₹574.4, closed 15% higher at ₹560.30 on the BSE today (August 6). The stock has gained 22% in the year so far.
(Edited by : Shoma bhattacharjee)
