Mahindra Logistics Q3 PAT remains flat at Rs 1 crore

Mahindra Logistics: Mahindra Logistics Q2 profit more than doubled to Rs 11 crore, revenue increases 28%. The stock will be in focus as the logistics & mobility solutions provider's profit for the quarter ended September FY23 more than doubled to Rs 11 crore from Rs 5 crore YoY. Revenue at Rs 1,326 crore for the quarter increased by 28% compared to year-ago period and EBITDA jumped 45% YoY to Rs 71 crore in Q2FY23, driven by continuing recovery in automotive industry and sustained growth in consumption end markets including telecom.

Mahindra Logistics Ltd (MLL) on Wednesday said its profit after tax was flat at Rs 1 crore in the December quarter.

The company's Profit After Tax (PAT) was Rs 12 crore without the impact of its Rivigo acquisition, according to a statement.
In September last year, it had announced the acquisition of the B2B express business of Rivigo. The deal was completed in November 2022.
However, the revenue grew a 17 per cent at Rs 1,330 crore during the quarter under review from Rs 1,136 in the year-ago period, the company said.
FY22 figures have been restated post acquisition of Meru companies in the first quarter of FY23, it noted.
The company termed the third quarter as a "strong" quarter of consolidation and growth and added that supply chain services during the October-December period of FY23 grew by 18 per cent year-on-year led by 3PL Supply Chain services, which logged 24 growth year-on-year, the company said.
"In Q3 F23, we consolidated our performance across an integrated logistics portfolio. Growth was driven for services and solutions by automotive and manufacturing segments continued their growth trajectory, while the consumer and e-commerce businesses did witness a softer demand environment," Rampraveen Swaminathan, Managing Director and CEO at Mahindra Logistics Ltd, said.
Freight Forwarding faced significant headwinds with rates dropping significantly in the near past, he said, adding that the company's 3PL business continues to have traction in margin improvement and cost optimisation.