Mahindra Logistics' Financial Growth Amid Leadership Change

Mahindra Logistics reported a significant year-on-year profit increase despite a leadership change, attributed to a 67% rise in standalone PAT to Rs 13.12 crore for March. The company plans to continue expanding in logistics, focusing on eastern regions, and adjust to volatile market conditions under new CEO Hemant Sikka.

Mahindra Logistics announced a notable 67% year-on-year rise in standalone profit after tax, reaching Rs 13.12 crore for the quarter ending in March, compared to the same period last year. This growth occurs amid a leadership shift with Hemant Sikka taking on the role of Managing Director and CEO.

For the full fiscal year of 2024-25, the standalone profit fell 30% to Rs 43.50 crore, despite a 10% revenue increase to Rs 5,013 crore. The company attributed its revenue growth to expansions in 3PL logistics, contract logistics, and B2B express business, alongside strategic cost management measures.

Mahindra Logistics plans to fortify its presence in India's eastern region, focusing on expanding warehouse capacity and express logistics. The ongoing expansion in cities like Pune and Kolkata reflects the company's commitment to enhancing margins through innovative solutions and market responsiveness.

(With inputs from agencies.)