Mahindra Logistics on Thursday posted a 38.2 per cent rise in September quarter net to ₹19.1 crore on margin expansion. The Mahindra group’s logistics arm had posted a net profit of ₹13.8 crore in the year-ago period.
Its overall revenues grew by 10.9 per cent to ₹927.4 crore for the reporting period, against ₹835.9 crore in the previous year.
However, the gross margin widened to ₹75.6 crore from the year-ago’s ₹63.3 crore, which helped push up the profit.
The company's Chief Executive Officer Pirojshaw Sarkari explained that the margin expansion has been achieved on operation optimisation.
“We continue to remain optimistic on the growth potential of the sector. We are encouraged by the government plans and actions for improving the logistics sector,” he said.
The company’s scrip closed down 1.96 per cent at ₹538.65 on the BSE.