Mahindra Logistics reports standalone PAT of Rs 19 cr

25 Oct 2023 CW Team

Mahindra Logistics Ltd (MLL) has reported a substantial 73 percent year-on-year growth in its standalone Profit After Tax (PAT), reaching Rs 19 crore in the September quarter of the current fiscal year. This noteworthy financial performance compares with a standalone PAT of Rs 11 crore in the July-September period of FY23, as per a statement by MLL.

Despite this impressive profit growth, the company recorded a 5 percent decline in revenue during the quarter under review, which stood at Rs 1,136 crore, down from Rs 1,195 crore in the corresponding period of the previous year.

MLL attributes its continued success to growth and consolidation within its supply chain businesses, with certain markets mitigating challenges. The company's steadfast commitment to enhancing profit margins has led to earnings growth in various segments, apart from the MLL Express business.

Rampraveen Swaminathan, the Managing Director and CEO at Mahindra Logistics Ltd, expressed optimism about the logistics industry's outlook, citing a favorable landscape driven by sustained focus on infrastructure development, manufacturing, consumption growth, and positive regulatory advancements.

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