Mahindra Logistics Q2 PAT climbs 138% to Rs 12 cr

5 Nov 2022 , 12:37 PM

Consolidated profit before tax stood at Rs 16.65 crore in quarter ended 30 September 2022, registering a growth of 117.4% from Rs 7.66 crore in Q2 FY22. EBITDA surged 44.2% to Rs 70.9 crore in Q2 FY23 as against Rs 49.2 crore recorded in the corresponding quarter previous year. Mahindra Logistics said that the growth in the quarter propelled by continuing recovery in automotive industry and sustained growth in consumption end markets including telecom. The companys revenue from Supply Chain Management stood at Rs 1,263.40 crore (up 29.13% YoY) and revenue from Enterprise Mobility Services was at Rs 62.93 crore (up 15.24%) during the quarter. The company said it reported steady growth in B2B express and last mile delivery (including eDel) services. Mobility business though not scaled back to pre-covid levels continues to improve on operational efficiency, it added. Commenting on the performance, Rampraveen Swaminathan, managing director and CEO of Mahindra Logistics said, ?We continued our growth momentum in the Q2 of FY23 with 28% YoY increase in revenue. Business volume increase has been led by auto recovery and continued organic volume growth in other sectors. In addition to 3PL contract logistics, we continued to invest in last mile and B2B express which have maintained a strong growth momentum.? He further added, ?During the quarter we witnessed broader impact of inflation, increase in front line manpower costs and supply shortages of trailers and car carriers. While the short term operating environment continues to be characterized by global recessionary trends, pricing volatility and overall inflation, we continue to drive optimization in operations for us and our clients. The recently announced National Logistics Policy will be a catalyst for sector reforms and will enhance digitization, multi modal logistics and lower cost of logistics.? Mahindra Logistics is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and enterprise mobility. MLL serves over 400+ corporate customers across various industries like automobile, engineering, consumer goods and e-commerce. The company pursues an asset-light business model, providing customised and technology enabled solutions that span across the supply chain and people mobility services. Shares of Mahindra Logistics slipped 2.48% to settle at Rs 537.85 on Friday, 4 November 2022. Powered by Capital Market – Live News