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For the quarter ended Sep 18, consolidated net sales were up by 11% to Rs 927.35 crore. OPM was up by 60 bps to 3.7% thus resulted in a 31% increase in OP to Rs 33.96 crore. Other income was down by 20% to Rs 1.29 crore. Interest cost was lower by 12% to Rs 0.81 crore and depreciation was higher by 3% to Rs 5.13 crore. Thus resulting in a PBT of Rs 29.31 crore up by 35% YoY. After providing total tax of Rs 10.22 crore up by 29%, PAT for Sep 18 quarter stood at Rs 19.02 crore. After providing MI of Rs 0.15 crore, consolidated PAT for Sep 18 quarter stood at Rs 18.94 crore up by 37% YoY.
Commenting on the performance, Mr Pirojshaw Sarkari (Phil), CEO of Mahindra Logistics, said
"In the first half of the financial year, our profitability has improved by 50% due to our focus on optimization of operations leading to expansion of gross margins. We have added marquee clients to our portfolio and are working with them in providing technology enabled logistics solutions. We continue to remain optimistic on the growth potential of the sector. We are encouraged by the government plans and actions for improving the logistics sector. Mahindra Logistics is working with the government departments, industry platforms and other logistics players in supporting these plans."
For the 6 months ended Sep 18, consolidated net sales stood at Rs 1855.54 crore which was up by 10% on YoY basis. OPM was higher by 90 bps to 4%, thus resulting in a 42% increase in OP to Rs 74.47 crore. Other income was higher by 16% to Rs 4.17 crore. Depreciation was higher by 11% to Rs 10.19 crore which resulted in a 48% increase in PBT to Rs 66.87 crore. Thus, after providing total tax of Rs 23.47 crore and MI of Rs 0.45 crore, consolidated PAT for 6 months ended Sep 18 stood at Rs 42.92 crore, up by 50% YoY.
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