The shares of this logistics & mobility solutions provider fell up to 7 percent after the company’s net profit decreased by 1800 percent in the third quarter.
With a market capitalization of Rs 2,999.23 crore, the shares of Mahindra Logistics Ltd closed at Rs 416.35 per share, decreasing around 5 percent as compared to the previous closing price of Rs 437.95 apiece.
Looking into the company’s Performance, Mahindra Logistics Ltd’s revenue increased by 2 percent on a quarter-on-quarter basis from Rs. 1,365 crores in Q2FY24 to Rs.1,397 crores in Q3 FY24. Further, revenue increased by 5 percent year on year from Rs. 1,330 crores in Q3FY23 to Rs.1,397 crores in Q3FY24.
Mahindra Logistics Ltd’s net loss increased by 6 percent on a quarter-on-quarter basis from Rs.16 crore in Q2FY24 to Rs. 17 crore in Q3FY24. Further, net profit decreased by 1800 percent yearly from a profit of Rs.1 crore in Q3FY23 to a loss of Rs.17 crore in Q3FY24.
The firm generates money from a variety of sources, with transportation accounting for 67.43 percent of its total revenue. Furthermore, the firm generates 20.33 percent of its income from storage, 7.15 percent from freight forwarding, and the remaining 5.09 percent from mobility.
By fiscal year 2026, the firm hopes to be worth Rs. 10,000 crore in logistics services. For FY24, the business plans to consolidate leading positions in contract logistics, make turnaround acquisitions in B2B Express and last-mile delivery, increase cross-border freight volumes, and extend its mobility network.
Mahindra Logistics Ltd reported return ratios in the recent financial year with a return on equity (ROE) of 4.45 percent and a return on capital employed (ROCE) of 7.36 percent.
Mahindra Logistics Ltd’s recent shareholding pattern, The Promoters of the company own 58.04 percent while Retail shareholders own a 20.31 percent stake in the company and Foreign Institutional Investors own a 5.92 percent stake.
Mahindra Logistics Ltd is an integrated logistics and transportation solutions provider. The firm provides Supply Chain knowledge to a variety of industry verticals, including automotive, engineering, consumer goods, pharmaceuticals, telecommunications, commodities, and e-commerce.
Written by:- Abhishek Singh
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