Company posted revenue of Rs.2,941 crores H1 FY25 as compared to Rs.2,658 crores in H1 FY24.
Mahindra Logistics Ltd. (MLL), one of India’s integrated logistics & mobility solutions providers, announced its unaudited consolidated financial results for the quarter and half year ended 30th September, 2024. In Q2 FY25 company’s revenue stood at Rs 1,521 crores as compared to Rs. 1,365 crores in Q2FY24. EBITDA is at Rs 66 crores as compared to Rs 54 crores same period in previous year. Company reported Profit Before Tax Rs 5.0 crore as compared to Rs. (8.2) crores previous year. Company’s Profit After Tax loss stood at Rs 10.7 crores compared to Rs. 15.9 crores in Q2 FY24.
Company posted revenue of Rs.2,941 crores H1 FY25 as compared to Rs.2,658 crores in H1 FY24. Company’s EBITDA stood at Rs133 crores as compared to Rs.120 crores previous year. Company reported Profit Before Tax Rs 7.5 crores H1 FY25 as compared to Rs. (7.6) crores in H1FY24. Profit After Tax stood at Rs 20.1 crores as compared to Rs (24.5) crores previous year.
Company’s overall Revenues during Q2 FY25 demonstrated a strong growth of 11.5 per cent on YOY across businesses. Continued the focus on expanding capacity and making investments in the Eastern and North Eastern region, focussing on warehouses, delivery stations and express logistics.
The revenues for Freight forwarding the business grew by 65 per cent on YoY basis on the back of improved pricing in Ocean freight. The losses for the Express business were reduced by 32 per cent on YoY basis, driven by continuous cost optimization. The EBITDA losses were also reduced by 10 per cent on QoQ basis.
Commenting on the performance, Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics Ltd. said, “During the quarter, we saw strong revenue performance with year-on-year growth of 11.5 per cent. Our 3PL contract logistics, cross border and last mile delivery segments registered strong growth driven by account additions, new offerings and a stable cross border pricing environment. During the quarter, we expanded our offerings for transportation & green logistics. We continue to expand the overall network, with new infrastructure expansions in the east to support warehousing, last mile and express segments, which should help drive future growth. With the upcoming peak in Q3, we have expanded capacity and resources in contract logistics and last mile delivery, having a seasonal impact on operating earnings in the quarter. A soft demand environment and operating conditions impacted the express business. We believe H2 will be stronger driven by the festive peak and impact of margin improvement programs across all the businesses.”
