Mahindra Logistics Ltd. (MLL), one of India’s largest 3PL solutions providers, announced its consolidated financial results for the quarter as the financial year ended on March 31, 2018. For FY 18, the company continues to report robust performance on the back of healthy revenue growth in SCM business. Non-Mahindra SCM business growth was led by revenues from freight forwarding, Consumer & Pharma and Auto & Engineering clients. EBITDA is higher due to lower Fixed Term Strategic Consulting Service Fees compared to earlier periods.
The performance of FY18 when compared with FY17 showed revenue is up 28% and has grown from Rs. 2667 crore to Rs. 3416 crore. EBITDA has also rose 46%, growing from Rs. 86 crore to Rs. 126 crore. From Rs 68 crore PBT up 51% to Rs. 102 crore. PAT has touched Rs. 65 crore, which is 42% increase from Rs 46 crore.
Commenting on the performance, Mr Pirojshaw Sarkari (Phil), CEO of Mahindra Logistics, said: “We have achieved a major milestone in the company’s journey, crossing USD 0.5 bn in revenues. Our Mahindra as well as non-Mahindra business continued the growth momentum delivering a PBT of over Rs. 100 Cr. MLL has managed the major transitions like GST and E-Way bill effectively. It is heartening to see the attention the sector is getting from government in terms of favorable policies and ease of doing business. As one of the largest 3PL players in India, we look forward to working with the policy makers to reduce the cost of logistics for the country.”