Mahindra Logistics Reports Q2 & H1 FY24 Results

Mahindra Logistics unveiled its audited consolidated financial results for the quarter ending on September 30, 2023.

Q2 FY24 Standalone Performance:

Revenue: Rs. 1,136 crores vs. Rs. 1,195 crores
EBITDA: Rs. 74 crores vs. Rs. 64 crores
PBT: Rs. 26 crores vs. Rs. 15 crores
PAT: Rs. 19 crores vs. Rs 11 crores
EPS (Diluted): Rs. 2.59 vs. Rs 1.56

H1 FY24 Standalone Performance:

Revenue: Rs. 2,187 crores vs. Rs. 2,264 crores
EBITDA: Rs. 157 crores vs. Rs. 128 crores
PBT: Rs. 57 crores vs. Rs. 34 crores
PAT: Rs. 42 crores vs. Rs 25 crores
EPS (Diluted): Rs. 5.78 vs. Rs 3.51

Q2 FY24 (Consolidated) Performance:

Revenue: Rs. 1,365 crores vs. Rs. 1,326 crores
EBITDA: Rs. 54 crores vs. Rs. 68 crores
PBT: Rs. (8 crores) vs. Rs. 17 crores
PAT loss: Rs. 16 crores vs. profit of Rs. 11 crores
EPS (Diluted): Rs. (2.21) vs. Rs. 1.69

H1 FY24 (Consolidated) Performance:

Revenue: Rs. 2,658 crores vs. Rs. 2,526 crores
EBITDA: Rs. 120 crores vs. Rs. 133 crores
PBT: Rs. (8 crores) vs. Rs. 36 crores
PAT loss: Rs. 24 crores vs. profit of Rs. 25 crores
EPS (Diluted): Rs. (3.40) vs. Rs. 3.57

Mahindra Logistics achieved continued growth and consolidation across its supply chain businesses, showcasing positive performance, especially in 3PL Supply Chain services driven by the automotive and engineering, consumer, and durables sectors. The company’s focus on margin improvement led to earnings growth across various businesses, including a robust 133 percent year-over-year growth in the Mobility business, which is now PAT positive. Furthermore, they expanded their warehouse space in different locations and launched a multi-client warehouse in Bhiwandi, Mumbai, catering to the automotive, e-commerce, and FMCG industries.

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