Mahindra Logistics Ltd
P&L
Quarterly Consolidated
vs Q2 FY25
Mahindra Logistics Q3FY25 Revenue up by 14.1% YoY at Rs. 1,594 crores
28 Jan 2025 · 28 Jan 2025, 01:32 am
Summary
Mahindra Logistics Ltd. (MLL) announced its unaudited consolidated financial results for the quarter ended 31 December, 2024. The company reported a revenue of Rs. 1,594 crores as compared to Rs. 1,397 crores in Q3 FY24, but also reported a PAT loss of Rs. 9.0 crores compared to Rs. 17.4 crores in Q3 FY24. The standalone performance also showed a revenue of Rs.1,327 crores as compared to Rs.1,160 crores in Q3 FY24.
Key Highlights
- 1
3PL Supply Chain experienced a 14% YoY growth driven by demand in automotive, consumer and durables.
- 2
Network services grew by 22.9% on YoY basis driven by growth in freight forwarding and last mile delivery.
- 3
The revenues for Freight forwarding business grew by 18.9% on YoY basis on the back of improved volumes in export.
- 4
Warehouse space under management in the 3PL business stood at over 22.3 Mn. Square feet.
- 5
Warehousing and Solutions revenue grew by 14% on YoY basis.
- 6
The losses for the Express business were reduced by 26.5% on YoY basis, driven by continuous cost optimization.
Management Comments
Mr. Rampraveen Swaminathan
During the quarter, we saw robust revenue growth of 14.1%. Our 3PL contract logistics and outbound logistics business registered strong growth driven by account additions, new offerings and new launches. The cross- border and last mile business segments continued to demonstrate volume growth, despite sectoral pricing headwinds. During the quarter, we expanded our offerings for transportation & green logistics. We are on track with new warehousing additions in western and eastern India. We remain focused on expanding margins through better cost management, and turnaround of the express business.
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