Mahindra Logistics Limited (MLL) reported its unaudited consolidated financial results for the second quarter ended September 30, 2024. The company’s revenue from operations rose to ₹1,521.10 crore, up from ₹1,364.76 crore in the same quarter last year, marking an increase of 11.4%. Other income stood at ₹1.73 crore compared to ₹6.58 crore in the previous year’s quarter.
Key Financial Highlights (Q2 FY25 vs. Q2 FY24):
- Net Profit: The company posted a net loss of ₹10.75 crore compared to a loss of ₹15.93 crore in Q2 FY24, showing improvement in narrowing losses.
- Operating Expenses: Operating expenses increased to ₹1,306.85 crore from ₹1,164.41 crore in Q2 FY24 due to higher operational activity.
- Employee Benefits Expense: The company reported an employee expense of ₹104.74 crore, a slight increase from ₹103.97 crore in the previous year’s quarter.
- Finance Costs: Finance costs rose to ₹19.12 crore, up from ₹16.53 crore in Q2 FY24.
- Depreciation and Amortization: Depreciation expenses increased to ₹53.96 crore, compared to ₹51.79 crore in the same period last year.
- Other Expenses: MLL’s other expenses for the quarter amounted to ₹43.13 crore, marginally up from ₹42.81 crore in Q2 FY24.
Despite the revenue growth, the company continued to face challenges in profitability, attributed mainly to rising expenses and finance costs.
TOPICS:
Mahindra Logistics