Consolidated net sales (including other operating income) of Mahindra Logistics for the quarter ended Mar 2023 has increased 16.90% to Rs 1272.51 crore.  Operating profit margin has jumped from 4.73% to 5.01%, leading to 23.85% rise in operating profit to Rs 63.72 crore.  Other income fell 39.21% to Rs 3.83 crore.  PBIDT rose 16.97% to Rs 67.55 crore.  Provision for interest rose 85.43% to Rs 16.93 crore. PBDT rose 4.11% to Rs 50.62 crore.  Provision for depreciation rose 40.73% to Rs 55.25 crore.    Profit before tax reported loss of Rs 4.63 crore compared to profit of Rs 9.36 crore.  Provision for tax was credit of Rs 4.83 crore, compared to debit of Rs 3.08 crore.  Effective tax rate was 82.42% compared to 32.87%. Minority interest increased 81.08% to Rs -0.21 crore.  

• Sales of Supply Chain Management segment has gone up 14.52% to Rs 1,197.01 crore (accounting for 94.07% of total sales) driven largely by higher revenue at contract logistics and B2B Expess. Segment revenue of Contract Logistics was up 15% to Rs 975 crore. The B2B Exp business reported 150% jump in revenue to Rs 105 crore gained by Rivigo acquisition. Last mile connectivity biz revenue was up 13% to Rs 44 crore. However hit by fall in ocean freight rates, the freight forwarding business reported 35% fall in revenue to Rs 73 crore.   Sales of Enterprise Mobility Service segment rose 175.15% to Rs 75.50 crore (accounting for 5.93% of total sales).  
• Overall PBIT was a loss of Rs 4.63 crore (against a profit of Rs 65.01 crore) with margin fell from 6.06% to -0.36%.   PBIT of Supply Chain Management reported loss of Rs 3.70 crore (compared to profit of Rs 63.97 crore) with its PBIT margin  fell from 6.12% to 0.31%.   Segment profit of EMS was a loss of Rs 0.93 crore against a profit of Rs 1.04 crore.

• Sales of Supply Chain Management segment has gone up 23.59% to Rs 4,867.72 crore (accounting for 94.92% of total sales).  Sales of Enterprise Mobility Service segment rose 28.94% to Rs 260.57 crore (accounting for 5.08% of total sales).  
• Profit before interest, tax and other unallocable items (PBIT) has slumped 37.16% to Rs 158.05 crore.  PBIT of Supply Chain Management segment fell 36.83% to Rs 153.80 crore (accounting for 97.31% of total PBIT).  
• PBIT margin of Supply Chain Management segment fell from 6.18% to 3.16%.  Overall PBIT margin fell from 6.07% to 3.08%.  

 Rampraveen Swaminathan — Managing Director and CEO said, " In Q4 FY23, we continued to invest in our vision of becoming a customer-led provider of integrated logistics & mobility solutions. Despite slowdown in some end markets, our core 3PL business demonstrated positive traction on order intake and margin expansion, driven by our diversified market segments. Our freight forwarding business was impacted by freight price corrections but demonstrated volume growth across all offerings. The integration program of Rivigo`s 828 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. During the quarter we were certified as Great Place to WorkTM, reaffirming our commitment to building an equal opportunity, inclusive workplace. We remain optimistic of positive demand uptick in coming quarters and remain focused on consolidating and leveraging our portfolio."