Mahindra Logistics Q3 Results | Loss shrinks to ₹7 crore, revenue grows 14% to ₹1,594 crore
Mahindra Logistics Ltd (MLL) on Monday (January 27) reported a net loss of ₹7.2 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal, Mahindra Logistics posted a net loss of ₹17.4 crore, the company said in a regulatory filing.
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The company’s revenue from operations increased 14.1% to ₹1,594.2 crore as against ₹1.397.2 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA jumped 41.2% to ₹73.7 crore in the third quarter of this fiscal over ₹52.2 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 4.6% in the reporting quarter as compared to 3.7% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
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Mahindra Logistics reported a 14% year-on-year growth in its 3PL Supply Chain segment, driven by demand in the automotive, consumer, and durables sectors. Network services registered a 22.9% year-on-year increase, supported by growth in freight forwarding and last-mile delivery.
Revenues from the freight forwarding business rose by 18.9% year-on-year due to higher export volumes, while ocean freight rates for imports and exports continued to decline. The 3PL business managed over 22.3 million square feet of warehouse space, with an addition of 0.7 million square feet during Q3 FY25.
Warehousing and solutions revenue grew by 14% year-on-year. In the Express business, losses were reduced by 26.5% year-on-year, driven by ongoing cost optimization, with EBITDA losses decreasing by 40.3% year-on-year. The company remains focused on achieving volume growth and progressing toward EBITDA breakeven.
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Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics said, “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.”
The results came after the close of the market hours. Shares of Mahindra Logistics Ltd ended at ₹362.60, up by ₹3.90 or 1.09% on the BSE.
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