Mahindra Logistics Reports Rs 9.3 Crore Net Loss for Q1 FY2025

Mahindra Logistics (MLL), one of India's integrated logistics and mobility solution providers, recorded a net loss of Rs 9.3 crore in the first quarter of fiscal year 2024-25, compared to Rs 8.6 crore in Q1 FY 2024. Revenue from operations climbed by 10% to Rs 1,420 crore from Rs 1,293 crore in the same period last year. According to an official announcement, Mahindra Logistics reported a moderate demand environment, with contract logistics revenue growing by nine percent year on year in Q1 FY25.

The freight forwarding business increased by 12 percent quarter on quarter, driven by increased demand for inbound maritime goods. The express company saw a 2% YoY increase in revenue and a 16% YoY decrease in PAT losses due to continual cost optimisation. Mobility and last-mile deliveries continued to improve. The 3PL firm managed more than 20 million square feet of warehouse space. The business opened its cutting-edge BTS warehouse in Guwahati throughout the quarter."

Mahindra Logistics announced a joint venture with Seino Holdings in the first quarter with the goal of providing comprehensive logistics solutions to Japanese auto and auto-ancillary customers, according to the press release. "Despite the muted demand environment, the quarter gone by saw healthy order booking in 3PL and cross-border business," says Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics. "The cross-border business had strong growth, owing to increased demand for inbound maritime cargo.

The mobility, last mile delivery, and car outbound logistics company 2x2 continues its improvement journey and has generated strong performance. Earnings were hurt by prolonged start-up costs as well as higher staffing and warehousing leasing costs. Lower volumes had an impact on the express business, but our cost-cutting actions mitigated this. We predict a significant increase in overall operating performance in the latter part of the year." Swaminathan has been reappointed as Managing Director and CEO of the company for five more years—from February 4, 2025, to February 3, 2030.