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For the quarter ended June 18, consolidated net sales were up by 9% to Rs 928.19 crore. OPM was up by 130 bps to 4.4% thus resulted in a 53% increase in OP to Rs 40.51 crore. Other income was up by 45% to Rs 2.88 crore. Interest cost was lower by 13% to Rs 0.77 crore and depreciation was higher by 21% to Rs 5.06 crore. Thus resulting in a PBT of Rs 37.56 crore up by 60% YoY. After providing total tax of Rs 13.25 crore up by 58%, PAT for June 18 quarter stood at Rs 24.31 crore. After providing MI of Rs 0.3 crore, consolidated PAT for June 18 quarter stood at Rs 24.01 crore up by 62% YoY.
Commenting on the performance, Mr Pirojshaw Sarkari (Phil), CEO of Mahindra Logistics, said,
"We continue to focus on improving profitability. This quarter, the profit growth was significantly higher because of expansion in gross margins, increase in other income and nil strategic consulting fees compared to last year. We remain buoyant on the logistics sector potential and will continue our endeavour to shape the industry and expand our business."
Reported a revenue growth of 27.3% in warehousing and other value-added activities in Non-Mahindra SCM segment.
Expanded gross margins across different industry verticals driven by focus on operational efficiencies and better revenue mix
For the 12 months ended Mar 18, consolidated net sales stood at Rs 3416.12 crore which was up by 28% on YoY basis. OPM was higher by 60 bps to 3.5%, thus resulting in a 57% increase in OP to Rs 119.73 crore. Other income was lower by 39% to Rs 5.88 crore. Depreciation was higher by 35% to Rs 19.73 crore which resulted in a 51% increase in PBT to Rs 102.11 crore. Thus, after providing total tax of Rs 36.84 crore and MI of Rs 1.26 crore, consolidated PAT for 12 months ended Mar 18 stood at Rs 64.01 crore, up by 40% YoY.
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