One of India’s large 3PL solutions providers, Mahindra Logistics (MLL), today announced its consolidated financial results for the quarter ended on June 30, 2021, with revenue of ₹873 crore as compared to ₹410 crore in Q1 last year and PAT of ₹9 crore, an increase of 155 percent from a negative of ₹17 crore last year.

The company also recorded EBITDA ₹47 crore as compared to ₹1 crore in Q1 last year and PBT of ₹12 crore as compared to negative ₹22 crore in Q1 last year, while EPS (diluted) is at ₹1.26 as compared to ₹-2.21 last year.

The 3PL company registered 113 percent growth in overall quarterly revenue, despite the disruptions due to the second wave of Covid 19.

“Growth in supply chain segment during the quarter at 114 percent YoY, contributed by increased business volumes across all end markets. Revenue from warehousing services & solutions grew 30 percent over the same period last year with a continued focus on the solutions-led approach to customer’s requirements,” reads the release.

Rampraveen Swaminathan, managing director and CEO of Mahindra Logistics, said, “We delivered a strong performance despite the challenging external environment due to the rapid spread of second wave of the Covid-19 pandemic. The regional lockdowns, high commodity costs and fuel prices impacted demand across the end markets. Our strong focus on customer retention, new account acquisition and cost reduction helped us offset these challenges.”

“Implementation of our strategic initiatives continued through the quarter and we anticipate a strong uptick in the economic activity in the rest of the year,” he said.

“We have launched several initiatives to improve our preparedness for the future with employee assistance programs and vaccination campaigns. As part of the relief program, the Company supported the “Mahindra Oxygen on Wheels” initiative to provide last-mile delivery support for oxygen cylinders across the country,” he added.

Source : ITLN