Mahindra Logistics reported Rs 8.30 crore net loss in the quarter ended June 30, 2023, as against Rs 13.64 crore net profit reported in Q1FY23.
Revenue from operations rose 7.78 percent year on year (YoY) at Rs 1,293.22 crore in Q1FY24 as compared to Rs 1,199.90 in the corresponding period previous year, Mahindra Logistics said in an exchange filing.
The company's total expenses increased by 9.69 YoY percent to Rs 1,298.83 crore.
The supply chain management (SCM) segment, which constitutes more than 90 percent of the company's revenue, saw marginal 6.24 percent YoY growth in revenue at Rs 1,213.76 crore as against Rs 1,142.74 in Q1FY22.
However, a steep 97 percent YoY decline in SCM segmental profit was observed in the quarter ended June 2023 at Rs 2.23 crore, versus Rs 74.97 crore reported in the same period previous year.
Mahindra Logistics Ltd is an integrated logistics & mobility solutions provider. The company offers Supply Chain expertise to diverse industry verticals such as Automotive, Engineering, Consumer Goods, Pharmaceuticals, Telecommunications, Commodities, and E-commerce.
On July 24, the scrip settled at Rs 389.50 apiece on the BSE, which was 4.77 percent lower as against the previous day's close.
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