Mahindra Logistics Ltd reported a consolidated net loss of ₹9.03 crore for the quarter ended December 31, 2024, narrowing from a loss of ₹17.41 crore in the same period last year. Despite marking its eighth consecutive quarterly loss, the company witnessed steady demand in its third-party logistics business and reduced losses in its express commerce segment.
Revenue from operations grew 14% year-on-year (YoY) to ₹1,594 crore during the quarter, reflecting demand driven by the automotive and consumer goods sectors. However, the logistics firm continues to face challenges, including stiff competition in India’s ₹342 billion logistics market and elevated expenses related to its 2022 acquisition of express cargo firm Rivigo. Operating expenses rose by 13% YoY in Q3 FY25.
Losses in the express business narrowed by 26.5%, showcasing an improvement in operational efficiencies. The third-party logistics segment, the company’s core contract business, grew 14% YoY, supported by festival season demand in India.
As of 9:47 AM, Mahindra Logistics’ stock was trading 3.09% lower at ₹351.25 on the NSE, reflecting market reactions to its Q3 performance. The stock had closed at ₹362.45 in the previous session.
The company remains under pressure to achieve profitability as competition and acquisition-related costs weigh on its financial performance.
