Mahindra Logistics Q3 net loss at Rs 17cr

For the first nine months of the current financial year, Mahindra Logistics reported a net loss of Rs 41.2 crore. Consolidated revenue was up 5% at Rs 4,055 crore.

Q3FY2023-24 was a period of moderate demand. The festive season was marked by volume growth but was offset by lower volumes due to capacity consolidation and increased shut downs, especially in e-commerce and some automotive OEM customers: Rampraveen Swaminathan, Mahindra Logistics.

Warehouse space under management stood at 20 mn sq. ft. in the 3PL business. Current expansions for Mahindra Logistics in Chakan, Kolkata, Nashik & Guwahati are on track.

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