Mahindra Logistics delivered a clear year-on-year improvement in its Q3 performance for the quarter ended December 31, 2025, driven by strong revenue growth and a turnaround at the profit level despite continued cost pressures.
Revenue from operations rose to ₹1,898.03 crore in Q3 FY26, compared with ₹1,594.20 crore in Q3 FY25, registering a year-on-year growth of 19.0%. Total income increased to ₹1,903.29 crore from ₹1,600.45 crore a year earlier, reflecting a 18.9% YoY rise, supported primarily by higher logistics volumes.
Total expenses for the quarter stood at ₹1,883.45 crore, up from ₹1,601.57 crore in the corresponding period last year, marking a 17.6% YoY increase. Operating expenses grew by 18.7% to ₹1,640.32 crore, while employee benefit expenses increased by 8.8% to ₹110.20 crore. Finance costs declined sharply by 25.1%, easing to ₹16.52 crore from ₹22.05 crore, providing some relief to overall cost pressures. Depreciation and amortisation expenses rose by 21.5% year-on-year to ₹71.69 crore.
Profit before tax stood at ₹12.44 crore, compared with a loss of ₹1.15 crore in the year-ago quarter, reflecting a decisive year-on-year recovery. After tax, Mahindra Logistics reported a profit of ₹6.01 crore, reversing a loss of ₹7.26 crore in Q3 FY25.
