Mahindra Logistics announces a 7 percent year-on-year increase in revenue for FY24, reaching ₹5,506 crores.
Mahindra Logistics reported its audited consolidated financial results for the quarter and year ending March 31, 2024. In Q4 FY24, standalone revenue rose to ₹1,183 crores from ₹1,055 crores in Q4 FY23, while standalone EBITDA decreased to ₹64 crores from ₹80 crores.
Similarly, PAT declined to ₹8 crores from ₹22 crores in the same period. For the full year FY24, standalone revenue increased to ₹4,530 crores from ₹ 4,459 crores in FY23, with a marginal rise in EBITDA to ₹292 crores from ₹276 crores.
However, consolidated performance saw revenue rise to ₹1,451 crores in Q4 FY24 from ₹1,273 crores in Q4 FY23, but PAT loss widened to ₹12.9 crores from ₹0.8 crores. For FY24, consolidated revenue reached ₹5,506 crores, up from ₹5,128 crores in FY23, with a notable increase in PAT loss to ₹54.7 crores from a profit of ₹26.3 crores.
Despite challenges, MLL highlights growth in 3PL supply chain services and express businesses, along with strategic investments in last-mile delivery services. Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics expressed optimism about the company’s performance and emphasised a focus on integrating services and leveraging technology for continued growth.
