Mahindra Logistics September quarter PAT doubles to Rs 11 crore | Tech US News


Mahindra Logistics on Friday reported a more than two-fold increase in profit after tax (PAT) for the September 2022 quarter to Rs 11 crore, mainly due to continued recovery in the automotive industry. is due to The company reported a PAT of Rs 5 crore for the quarter ended September 2021. Revenue during the reporting quarter rose 28% to Rs 1,326 crore from Rs 1,033 crore in the second quarter of FY22. The company said the growth in the quarter was driven by continued recovery in the automotive industry and continued growth in consumer end markets including telecom.

In addition, MLL saw continued growth in B2B express and last-mile delivery (including eDel) services during the quarter ended September 30 this year. “We continued our growth momentum in Q2FY23 with revenue growth of 28% YoY. The increase in business volume was driven by ongoing organic volume growth in auto recovery and other segments.

Rampraveen Swaminathan, Managing Director and CEO, Mahindra Logistics Limited said, “Apart from 3PL contract logistics, we continued to invest in last mile and B2B express, which has maintained a strong growth momentum.

He added that during the quarter, the company witnessed the wider impact of inflation, increased frontline workforce costs and supply shortages of trailers and car carriers.

Swaminathan said that while the short-term operating environment is characterized by global recessionary trends, price volatility and overall inflation, “we continue to drive operational optimization for ourselves”.

(This story has not been edited by DavidDiscourse staff and is generated automatically from a syndicated feed.)


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