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Mahindra Logistics Ltd. (MLL), one of India’s integrated logistics & mobility solutions providers, today announced its unaudited consolidated financial results for the quarter ended on June 30th, 2024.
Q1 FY25 (Consolidated) performance compared with Q1 FY24 has Revenue Rs. 1,420 crores as compared to Rs. 1,293 crores. EBITDA Rs.66 crores as compared to Rs.67 crores. PBT Rs. (2.5) crores as compared to Rs. 0.6 crores. PAT loss Rs. 9.3 crores compared to Rs. 8.6 crores And EPS (Diluted) Rs. (1.29) as compared to Rs. (1.19).
Q1 FY25 (Consolidated) performance compared with Q4 FY24 - Revenue Rs.1,420 crores as compared to Rs.1,451 crores. EBITDA Rs.66 crores as compared to Rs.57 crores. PBT Rs. (2.5) crores as compared to Rs. (9.2) crores. PAT Rs. (9.3) crores as compared to Rs (12.9) crores. And EPS (Diluted) Rs. (1.29) as compared to Rs (1.78)
Q1 FY25 MLL Standalone compared with Q1 FY24 - Revenue Rs.1,157 crores as compared to Rs.1,051 crores. EBITDA Rs.72 crores as compared to Rs.83 crores. PBT Rs.13.7 crores as compared to Rs. 31.1 crores. PAT Rs.10.2 crores as compared to Rs.23.0 crores. EPS (Diluted) Rs. 1.42 as compared to Rs 3.18.
Q1 FY25 MLL Standalone compared with Q4 FY24 - Revenue Rs.1,157 crores as compared to Rs.1,183 crores. EBITDA Rs.72 crores as compared to Rs.64 crores. PBT Rs.13.7 crores as compared to Rs.10.0 crores. PAT Rs.10.2 crores as compared to Rs.7.9 crores. EPS (Diluted) Rs. 1.42 as compared to Rs 1.09.
Moderate demand environment, Contract Logistics experienced a 9% YoY revenue growth in Q1 FY25. Freight forwarding business saw a 12% QoQ increase, driven by a growth in demand for inbound ocean cargo. The Express business saw an improvement of 2% YoY in revenue and a 16% YoY reduction in PAT losses driven by continuous cost optimization.
Mobility and Last Mile Delivery continued their improvement journey. Warehouse space under management in the 3PL business stood at over 20 million+ square feet. The company launched its state-of-the-art BTS warehouse at Guwahati during the quarter.
MLL announced a joint venture with Seino Holdings Ltd. during the Quarter aiming to offer integrated logistics solutions to Japanese auto and auto-ancillary customers. This partnership will leverage Seino’s global relationships with Japanese automotive customers to meet their logistics needs in India.
Commenting on the performance, Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics Ltd. said, “Despite the muted demand environment, the quarter gone by saw healthy order booking in 3PL and cross border business. The cross-border business saw good traction, driven by a growth in demand for inbound ocean cargo. The Mobility, Last Mile Delivery and auto outbound logistics business 2x2, continued their improvement journey and delivered a healthy performance. Earnings were impacted due to extended start-up costs, coupled with higher manpower and Warehousing lease costs. The Express business was impacted by lower volumes, which was offset by our cost optimization initiatives. We expect to see strong improvement in the overall operating performance in later part of the year.”
