Mahindra Logistics posts Rs 9 crore profit in Q2 FY22; revenue at Rs 1,019 crore

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Third-party logistics company Mahindra Logistics Ltd (MLL) on October 27 posted its second quarter results for the current financial year. The company has reported a profit after tax (PAT) of Rs 9 crore and a revenue of Rs 1,019 crore.

The PAT in Q2 FY22 has dropped as compared to the June-September quarter of FY21, when it was recorded as Rs 15 crore. The revenue, however, has grown by 22 percent as compared to the same period last year, when it was registered as Rs 833 crore.

The EBITDA (earnings before interest, taxes, depreciation and amortization) has grown to Rs 52 crore in Q2 FY22 as compared to Rs 46 crore in the second quarter last year.

For the first half of FY22, the revenue has been recorded as Rs 1,892 crore, which is higher than Rs 1,243 crore registered in H1 last year.

EBITDA in H1 of FY22 stood at Rs 99 crore as compared to Rs 46 crore in the first half last fiscal, whereas PAT grew to Rs 10 crore in comparison to negative Rs 2 crore in H1 last year.

"This quarter witnessed strong growth in revenue across the segments with 22 percent overall revenue growth when compared to same quarter last year," MLL said in a press release.

Higher volumes and new business wins in consumer, freight forwarding and e-commerce verticals helped drive revenue growth, it said.

"Continued traction in growth from integrated solutions; warehousing and solutions revenue grew by 26 percent this year over previous year," the company added.

"Despite headwinds in the auto industry, the focus on designing and delivering customized, integrated solutions continues to be a key driver for our growth," MML MD and CEO Rampraveen Swaminathan said.

"During the quarter, we added 1.3 mn sq ft of grade ‘A’ warehouse capacity," Swaminathan noted, adding that the upcoming festive season is expected to further boost the company's growth.