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Mahindra Logistics Q4 PAT grows 27% to Rs 12 cr

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Mahindra Logistics' consolidated net profit spurted 26.6% to Rs 12.41 crore on 20% jump in net sales to Rs 974 crore in Q4 FY21 over Q4 FY20.

The EBITDA stood at Rs 51 crore as compared to Rs 41 crore last year, registering 24.2% Y-o-Y (year-on-year). The profit before tax (PBT) was at Rs 16 crore as against Rs 13 crore last year, recording a growth of 23.07% Y-o-Y.

The company recorded robust growth in overall quarterly revenue, despite continuing softness in enterprise mobility segment, due to COVID-19 related volume reductions. The growth in supply chain segment during the quarter stood at 28% Y-o-Y, sustained by increased business volume across end markets served. Revenue from warehousing services and solutions jumped 12% over the same period last year with continued focus on solutions-led approach to customer's requirements in supply chain. Positive traction was observed post launch of "EDel", an electric last mile delivery solution while the company also saw a strong demand environment with opportunity for continuing fleet deployment. The company said it continued its focus on working capital management and cashflows.

Commenting on the Q4 performance, Rampraveen Swaminathan, the managing director (MD) and chief executive officer (CEO) of Mahindra Logistics, said: "We delivered continuing growth in Q4, FY20-21, driven by market recovery and execution of our strategy of providing customized, integrated solutions to our customers. Our revenue growth was driven by E-commerce, Consumer, Automotive and Freight Forwarding businesses. Strong momentum in Supply Chain has offset the continuing softness in the Enterprise Mobility segment, which remains impacted by the COVID-19 pandemic. We continue to expand and grow our service lines. During the quarter, 'Edel', our 100% electric powered vehicles solution, commenced operations in the last mile delivery services."

"We are again witnessing a significant increase in the spread of the Covid-19 pandemic. In this challenging environment, we are focused on safety & health of our employees and partners. We are also partnering with local authorities and supporting COVID-19 relief activities across multiple regions," he added.

The board has recommended a dividend of Rs 2.50 per share.

Mahindra Logistics is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and enterprise mobility (people transport solutions).

Shares of Mahindra Logistics rose 0.41% to Rs 554.35 on BSE. The scrip was trading in the range of Rs 542.70 to Rs 557 so far.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, April 30 2021. 11:30 IST