Mahindra Logistics Q4 loss widens to Rs 120.85 mn amid slow volume
WAREHOUSING & LOGISTICS

Mahindra Logistics Q4 loss widens to Rs 120.85 mn amid slow volume

Mahindra Logistics announced that it had experienced a fifth consecutive quarterly loss, attributing it to the sluggish growth in volume within its core business of supply chain management.

The consolidated net loss for the logistics division of the Mahindra Group was reported to be Rs 120.85 billion for the quarter ending on March 31.

Logistics firms were anticipating a subdued fourth quarter due to a slowdown in activity preceding the general elections in India.

The decline in demand within crucial manufacturing sectors such as automotive and industrial goods was stated to have a direct impact on third-party logistics providers.

Mahindra Logistics, which derives over 90% of its revenue from supply chain management, revealed that 80% of this revenue was derived from the automotive segment.

Despite a 2% decrease in diesel prices and a 7% decrease in aviation turbine fuel (ATF) prices year-on-year in the fourth quarter, it was noted that this reduction did not offset the effects of the subdued volumes.

Mahindra Logistics announced that it had experienced a fifth consecutive quarterly loss, attributing it to the sluggish growth in volume within its core business of supply chain management. The consolidated net loss for the logistics division of the Mahindra Group was reported to be Rs 120.85 billion for the quarter ending on March 31. Logistics firms were anticipating a subdued fourth quarter due to a slowdown in activity preceding the general elections in India. The decline in demand within crucial manufacturing sectors such as automotive and industrial goods was stated to have a direct impact on third-party logistics providers. Mahindra Logistics, which derives over 90% of its revenue from supply chain management, revealed that 80% of this revenue was derived from the automotive segment. Despite a 2% decrease in diesel prices and a 7% decrease in aviation turbine fuel (ATF) prices year-on-year in the fourth quarter, it was noted that this reduction did not offset the effects of the subdued volumes.

Next Story
Building Material

Tata Steel, Air Water India Ink 20-Year Deal for Jamshedpur ASU

Tata Steel has signed a 20-year agreement with Air Water India Private Limited (AWIPL) to operate and maintain its advanced Air Separation Unit (ASU) in Jamshedpur. The partnership aims to boost Tata Steel’s industrial gas infrastructure and improve efficiency through the use of cutting-edge cryogenic technologies. The agreement was signed between Peeyush Gupta, Vice President (TQM, GSP & SC), Tata Steel, and Kausik Mukhopadhyay, Managing Director, AWIPL. Under the contract, AWIPL will manage operations of the ASU, which can produce 1,800 tonnes of oxygen per day, along with nitrogen, argon..

Next Story
Infrastructure Urban

PM Modi Inaugurates and Lays Foundation for Projects in Andhra Pradesh

Prime Minister Narendra Modi inaugurated and laid the foundation stones for multiple projects worth Rs 134.3 billion in Andhra Pradesh. The initiatives span key sectors including infrastructure, energy, and urban development, aimed at boosting regional growth and job creation.In Visakhapatnam, the Prime Minister dedicated several completed infrastructure projects to the nation, while in Nandyal and West Godavari, he laid foundations for renewable energy and water resource developments. These projects align with the government’s focus on improving connectivity, expanding industrial potential,..

Next Story
Infrastructure Transport

MSRDC to Monetise Land Assets to Finance Key Infrastructure Projects

The Maharashtra State Road Development Corporation (MSRDC), led by Chief Minister Eknath Shinde, plans to monetise its land holdings to fund future infrastructure projects. The Corporation intends to lease land parcels for up to 99 years, with some earmarked for joint development or sale.MSRDC has been designated as the special planning authority for several strategic regions, including 19 growth centres along the Mumbai–Goa Expressway, 18 nodes on the Samruddhi Mahamarg, and development zones near the Pune Outer Ring Road, Shaktipeeth Highway, and Mumbai–Pune Expressway.The agency is prio..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?