Business

Mahindra Logistics Q1 FY23 Revenue at Rs. 1,200 Cr, up 36% over Q1 FY22 Q1 FY23 PAT of Rs. 13 Cr

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Mumbai, July 29, 2022: Mahindra Logistics Ltd. (MLL), one of India’s large 3PL solutions providers, today announced its unaudited consolidated financial results for the quarter ended June 30, 2022.

Q1 FY23 performance compared with Q1 FY22

  • Revenue Rs. 1,200 crores as compared to Rs. 883 crores in Q1 last year
  • EBITDA Rs. 69 crores as compared to Rs. 43 crores in Q1 last year
  • PBT Rs. 19 crores as compared to Rs. 6 crores in Q1 last year
  • PAT Rs. 13 crores as compared to Rs 3 crores in Q1 last year
  • EPS (Diluted) Rs. 1.88 as compared to Rs. 0.46 in Q1 last year

FY22 figures have been restated post acquisition of Meru companies in Q1 FY23.

 

Key Highlights – Q1, FY 2022-23

  • Steady volume growth in consumer, discrete manufacturing & E-Commerce contributed to 36% YoY growth in Supply Chain Segment revenue in the quarter
  • Warehousing services & solutions revenue grew 57% YoY in Q1 F23
  • Integration of acquisition in Whizzard (Last Mile Delivery) on track
  • Meru acquisition achieving strong traction on customer experience & cost synergies

 

Commenting on the performance, Mr. Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics Ltd. said,

“We continued to demonstrate strong growth in the quarter gone by, despite the uncertain external environment. Demand growth in farm & auto segment, combined with continuing growth in other markets has been strong. Our focus on customer value creation through integrated solutions and network services continues to find greater adoption with customers. We remained focused on driving cost management, accelerating digital transformation, enhancing human capital and executing our strategic platforms for profitable growth.”

 

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