The third-party logistics provider's consolidated net profit declined 2.78% to Rs 12.23 crore on 10.13% rise in net sales to Rs 1072.68 crore in Q4 March 2022 over Q4 March 2021.
The company's profit before tax (PBT) fell 13.37% to Rs 14 crore as against Rs 16 crore last year. EBITDA rose 19.61% to Rs 61 crore compared with Rs 51 crore last year.During the quarter, the company's supply chain segment grew at 11% YoY driven by continuing growth in non-auto end markets including durables, FMCG and E-Commerce.
The company said that solutions-led approach to customer's requirements resulted in revenue from warehousing services & solutions growing by 47% in the quarter over the same period last year. The company said it continued focus and traction on improving operational efficiencies and cost management.
The company's revenue from enterprise mobility segment fell 23% YoY. Enterprise mobility recovery was impacted by the resurgence of wave 3 of the pandemic impacting return to work programs of key clients. Freight forwarding sustained double-digit growth trajectory, the company said.
For the full year, Mahindra Logistics' net profit rose 23.57% to Rs 37.07 crore on 25.10% increase in net sales to Rs 4083.03 crore in the year ended March 2022 over the year ended March 2021. PBT rose 17.95% to Rs 46 crore as against Rs 39 crore last year. EBITDA jumped 38.16% to Rs 210 crore as compared to Rs 152 crore last year.
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The board has recommended a dividend of Rs 2 per share in the financial year ended 31 March 2022.
Rampraveen Swaminathan, managing director and CEO of Mahindra Logistics, said: "We continue to witness a challenging external environment with global supply chain volatility, chip shortages, fuel & commodity cost pressures and continuing waves of the Covid-19 pandemic. Despite these headwinds, we delivered continuing growth in Q4, FY21-22, driven by account acquisition and execution of our strategy of providing customized, integrated solutions to our customers. Our revenue growth was driven by E-commerce, Consumer, Automotive and Freight Forwarding businesses. Strong momentum in Supply Chain has offset the impact of Wave 3 of the Covid-19 pandemic on the Enterprise Mobility business. We remain focused on improving operational efficiencies and margin expansion."
Mahindra Logistics is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and enterprise mobility (people transport solutions). It serves over 400+ corporate customers across various industries like Automobile, Engineering, Consumer Goods and E-commerce.
Following the results, shares of Mahindra Logistics surged 10.75% to Rs 526 on the BSE. It fell 4.29% in the past three sessions.
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