Revenue from operations stood at Rs 1,364.76 crore in Q2 FY24, up 2.9% from Rs 1,326.33 crore recorded in Q2 FY23.

EBITDA dropped 20.71% to Rs 53.6 crore in Q2 FY24 as against Rs 67.6 crore posted in Q2 FY23. EBITDA margin reduced to 3.9% in the September quarter as compared to 5.1% registered in the same period a year ago.

The company reported a pre-tax loss of Rs 8.17 crore in Q2 FY24 as against a profit before tax of Rs 16.65 crore posted in Q2 FY23.

The company's revenue from supply chain management stood at Rs 1278.44 crore (up 1.19% YoY) while enterprise mobility services was at Rs 86.32 crore (up 37.17% YoY) during the period under review.

Rampraveen Swaminathan, managing director and CEO of Mahindra Logistics, said, “Overall new order intake remained robust across our business segments and we continued to consolidate our business operations in Q2, 2024. Our organic growth in 3PL remained positive driven by our end market diversification programs, despite headwinds in the Ecommerce segment. Margin improvements remained on track driven by operating cost reduction and product mix improvements in 3PL, Last Mile Delivery and Mobility businesses.

We have implemented appropriate actions to strengthen the network, customer service and volume enhancements in MLL Express and cross border logistics businesses. With the upcoming festive season we hope to see a positive demand uptick and we remain focused on accelerating margins driven by synergies in the network business and other cost reduction programs. “

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.