Revenue during the quarter increased by 16.9% YoY to Rs 1,272.5 crore.

While EBITDA improved by 16.9% to Rs 67.6 crore, EBITDA margin remained unchanged at 5.3% in Q4 FY23 as compared with the same period last year.

The company posted a pre-tax loss of Rs 4.6 crore in Q4 FY23. It had recorded a pre-tax profit of Rs 9.4 crore in Q4 FY22.

Mahindra Logistics said that consolidation continued during the quarter and growth in Q4 F23 was driven by supply chain services, which grew by 15% including acquisitions.

The 3PL supply chain services grew by 15% YoY and the growth was driven by automotive and engineering segments. Diversified revenue portfolio across segments offset muted growth in e-commerce.

The revenues of the company's freight forwarding business were impacted by downward correction in freight rates. Despite the impact of the pricing, underlying volume growth was positive in ocean exports and air imports.

The mobility business continued to see a strong uptick on airport-based services, driven by higher travel, and moderate pick up in employee transportation management.

During the last quarter, MLL's wholly owned subsidiary MLL Express Services (MESPL) completed the acquisition of the Rivigo's B2B express business, along with the associated brand and technology platforms. The acquisition expands the company's presence to over 19,000 pin-codes across India. The integration is underway and expected to start realizing cost reduction benefits from Q1 FY23-24.

Warehouse space under management stood at 19 million Sq. ft. including all service lines. In the fourth quarter, the company had announced the development of a new 1 million Sq. ft. park at Chakan.

The Mahindra Group Company's consolidated net profit increased by 63.6% to Rs 24.6 crore on a 23.8% rise in revenue to Rs 5,128.3 crore in FY23 over FY22.

The company's board of directors has recommended dividend of Rs 2.5 per share.

Rampraveen Swaminathan, managing director and CEO of Mahindra Logistics, said, "In C24 FY23, we continued to invest in our vision of becoming a customer-led provider of integrated logistics & mobility solutions.

The integration program of Rivigo's B2B express business acquired last quarter remains on track to yield cost and operating synergies in the coming quarters. Continued investments in operational excellence and technology aided in operational efficiencies.

We remain optimistic of positive demand uptick in coming quarters and remain focused on consolidating and leveraging our portfolio.”

Mahindra Logistics (MLL) is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and enterprise mobility. The company serves over 400 corporate customers across various industries like automobile, engineering, consumer goods and e-commerce.

The scrip shed 0.24% to currently trade at Rs 374 on the BSE.