Mahindra Logistics Q2 net profit 31.4% higher at Rs.14.85cr

Mahindra Logistics reported a minor fall of 2.34% in top line sales revenues for the Sep-20 quarter at Rs832.51cr.

Oct 30, 2020 06:10 IST India Infoline News Service

Logistics storehouse
Mahindra Logistics reported a minor fall of 2.34% in top line sales revenues for the Sep-20 quarter at Rs832.51cr. However, the company managed a turnaround at a time when such the logistics business had taken a hard knock in the Jun-20 quarter and is now back to the pre-COVID sales volume levels.


The operating profits for the quarter ended Sep-20 was 17.9% lower on a yoy basis at Rs16.47cr. The net profit for the Sep-20 quarter was, however, higher by 31.42% at Rs14.85cr on the back of higher other income, and partly due to lower operating costs.


This had an overall impact on the margins of Mahindra Logistics. For the Sep-20 quarter, the operating profit margins or OPM was down 37 bps to 1.98% in the quarter. However, the net profit margins or NPM for the quarter improved by 45 bps at 1.78%.


Financial highlights for Sep-20 compared yoy and sequentially


Mahindra Logistics
Rs in Crore Sep-20 Sep-19 YOY Jun-20 QOQ
Revenues 832.51 852.42 -2.34% 410.46 102.82%
Operating Profit 16.47 20.07 -17.94% -20.64 Not Relevant
Net Profits 14.85 11.30 31.42% -16.48 Not Relevant
Diluted EPS (Rs) 2.08 1.55 -2.21
OPM 1.98% 2.35% -5.03%
Net Margins 1.78% 1.33% -4.02%
 

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