Shares of Mahindra Logistics fell 1.4 percent at the open on April 23, a day after the logistics player reported a net loss of Rs 11.9 crore for the March quarter.
Mahindra Logistics had reported a profit of Rs 0.20 crore in the year-ago period.
Its consolidated revenue, however, grew 14 percent YoY to Rs 1,450.8 crore. EBITDA declined 11.1 percent to Rs 56.6 crore, while the EBITDA margin came in at 3.9 percent against 5 percent in the previous fiscal. EBITDA is short for earnings before interest, tax, depreciation and amortisation.
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The company also told exchanges on April 22 that the board approved the re-appointment of Rampraveen Swaminathan as the company’s managing director and chief executive officer for five years.
Also read: Mahindra Logistics to invest Rs 170 crore on warehousing facility near Pune
The stock had recovered the losses by 9.42 am and was trading at Rs 446.60 on the National Stock Exchange, up 0.76 percent from the previous close.
An integrated logistics and mobility solutions provider, Mahindra Logistics offers supply chain solutions to industries such as auto, consumer goods, pharmaceuticals and e-commerce.
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