Domestic 3PL major, Mahindra Logistics has begun the new financial year on a confident note. In the first quarter of the current fiscal, the company has reported modest to major increase on all key performance parameters particularly pertaining to financials.
The company has reported a growth of 9 percent in its revenue during the quarter – Rs 928 crore from Rs 852 crore in the same quarter last year. The PBT metrics has grown by 60 percent and PAT has gone up by 61 percent. Among other key highlights, the company has reported a revenue growth of 27.3% in warehousing and other value-added activities in Non-Mahindra SCM segment.
Commenting on the performance, Pirojshaw Sarkari (Phil), CEO of Mahindra Logistics, said, “We continue to focus on improving profitability. This quarter, the profit growth was significantly higher because of expansion in gross margins, increase in other income and nil strategic consulting fees compared to last year. We remain buoyant on the logistics sector potential and will continue our endeavor to shape the industry and expand our business.”