Page 2 - Mahindra Logistics

Mahindra Logistics acquires last-mile delivery firm ZipZap for Rs 72 crore

Mahindra will acquire 60% in the Hyderabad-based firm through primary and secondary purchases in two phases

Mahindra Logistics' profit after tax declines 72% to Rs 5 cr in Dec quarter

Mahindra Logistics Ltd (MLL) reported a sharp 72 per cent year-on-year decline in profit after tax (PAT) to Rs 5 crore for the December 2021 quarter. The company had posted a PAT of Rs 18 crore in the same quarter a year ago, MLL said in a statement. The revenue, however, grew seven per cent to Rs 1,118 crore during October-December 2021 as compared with Rs 1,047 crore in the year-ago period, it said. Revenue from warehousing services and solutions in the quarter grew 35 per cent in the same period last year underlining the focus on the solutions-led approach to customer's requirements, MLL said. The company added that growth in the supply chain segment during the quarter stood at six per cent y-o-y, contributed by increased business volumes across all key end markets except auto. Mahindra Logistics Managing Director and CEO Rampraveen Swaminathan said, "The quarter gone by was a challenging one. Demand from the auto sector continued to be impacted due to semi-conductor supplies a

Mahindra Logistics acquires Meru Cabs from Mahindra & Mahindra

The third party logistics company, MLL is a 58.34 percent subsidiary of M&M.

Mahindra Logistics ramps capacity, adds 14,000 jobs ahead of festive season

The company is adding solutions like pop-up facilities across eight major cities aggregating to 1.1 million sq ft

Mahindra Logistics June-quarter consolidated net profit at Rs 9 crore

Mahindra Logistics Ltd on Tuesday reported a consolidated net profit of Rs 9.35 crore for the quarter ended June 30, 2021. The company had posted a consolidated net loss after taxes, non-controlling interests and share of loss of joint venture of Rs 15.81 crore in the year-ago period, Mahindra Logistics Ltd (MLL) said in a filing to BSE. The consolidated total income of the company during April-June quarter increased to Rs 875.28 crore over Rs 413.27 crore in the year-ago period. "We delivered a strong performance despite the challenging external environment due to the rapid spread of Wave 2 of the Covid 19 pandemic. The regional lockdowns, high commodity costs and fuel prices impacted demand across the end markets. "Our strong focus on customer retention, new account acquisition and cost reduction helped us offset these challenges," Rampraveen Swaminathan, managing director and CEO of Mahindra Logistics, said. Implementation of strategic initiatives continued through the quarter

Mahindra Logistics launches Oxygen on Wheels in Maharashtra

Mahindra Logistics on Tuesday launched, Oxygen on Wheels (O2W), a free service to augment the availability of oxygen by connecting producers with the hospitals and medical centres. The service has been rolled out in cities such as Mumbai, Thane, Pune, Pimpri-Chinchwad, Chakan, Nasik and Nagpur in Maharashtra with the company deploying around 100 vehicles to overcome the transportation bottleneck with safe and quick transportation to deliver oxygen cylinders on demand, a release said. The service will be helmed by Mahindra Logistics, which is partnering with the administration and local government bodies on this project, Mahindra & Mahindra said. The company also said it is in discussions with the civic administration and government departments to extend the service to other cities as well, including Delhi, which along with other states is facing an acute shortage of medical oxygen. Besides, given the overwhelming response in the past 48 hours, extending this initiative to deliver .

Flipkart partners with Mahindra Logistics to accelerate use of EVs

Walmart-owned Flipkart, in partnership with Mahindra Logistics, will deploy over 25,000 EVs in the fleet by 2030, according to a regulatory filing

Bajaj Electricals, Mahindra Logistics ink Rs 1,000 crore outsourcing deal

Involves end-to-end redesign of Bajaj Electricals' logistics by Mahindra, with the twin aim of achieving enhanced and industry-best service levels, and cost saving of over 25%

Mahindra Logistics to soon deploy electric vehicles for last-mile delivery

Mahindra Logistics is on an ambitious growth path with a target of achieving Rs 10,000-crore revenue by FY26

Covid-19 vaccine: Don't rush to buy all logistics stocks, say analysts

Vaccine storage and transportation being a niche segment will not benefit all logistics and transportation companies, analysts say

Mahindra Logistics Q2 consolidated profit up 31% to Rs 15 crore

Mahindra Logistics on Friday reported a 31.41 per cent jump in its consolidated profit to Rs 14.85 crore for the quarter ended September. The logistics arm of the Mahindra Group had clocked a consolidated profit after tax of Rs 11.30 crore during the second quarter of the previous fiscal, the company said in a BSE filing. Its total income fell to Rs 840.76 crore during the quarter under review as against Rs 854.27 crore in the year-ago period, it said. Its total expenses declined to Rs 820.52 crore during the July-September quarter of the fiscal as against Rs 836.50 crore in the year-ago period. "We have seen a strong rebound in our supply chain operations during the quarter. Our fulfilment logistics solutions & services continued to witness strong growth driven by e-commerce, pharma and FMCG verticals. We also continued to see strong growth from the Farm segment during the quarter. "While we are not yet completely back to normalcy since the advent of COVID-19 pandemic, our focus

Mahindra Logistics adds over 10,000 seasonal jobs ahead of festive season

Mahindra Logistics on Monday said it has added 10,100 seasonal jobs ahead of the festive season and will retain a significant number of these employees

Adani Ports, Mishra Dhatu: 27 stocks set to gain after conquering 200-DMA

The benchmark indices, Nifty 50 and S&P BSE Sensex, have also rebounded from their respective 200-DMA lows.

Amid Covid-19, Mahindra Logistics plans third-party foray with Alyte

The company hopes to have 30 per cent green and sustainable vehicles in its fleet in the next 3 years or by FY23-24

Lockdown: Mahindra Logistics to provide relief-fund to drivers

The initiative named HOPE (Helping Our People during Emergencies), aims to support drivers financially to aid the battle against the COVID-19 lockdown

Mahindra Logistics eyes acquisitions in SE Asia to strengthen freight wing

In 2014, Mahindra Logistics had acquired a majority stake in Mumbai-based Lords Freight India, which specialises in international logistics solutions

Mahindra Logistics to add 500,000 sq feet warehousing space by end of FY19

Mahindra Logistics, part of Mahindra Group, is planning to add around 5,00,000 square feet of warehousing space by the end of the current fiscal as part of its expansion in the country. The company would look at investing in start ups in the technology and analytics space in order to support its growth, said Pirojshaw Sarkari, CEO, Mahindra Logistics Ltd.The plans include expansion in South India, including in cities like Chennai adding two more warehouses to the existing three, focusing on automotive and manufacturing sector. In Chennai, it will add 200,000 square feet before the end of the current fiscal."Bengaluru and Hyderabad are the two other areas where we will be setting up our warehouses in South India. We are looking at adding about half a million square feet before March 31, 2019," said Sarkari. He later said that the plans are to add around one million square feet in total in the next one year. It will be focusing on the high margin businesses of warehousing and ...

Mahindra Logistics stock: Shift to organised segment should boost revenues

Significant opportunity exists for the company to penetrate the passenger transport segment, dominated by unorganised players

Mahindra Logistics ends flat on debut

In intra-day trade, it hit a high of Rs 434 and a low of Rs 416 on the National Stock Exchange

Mahindra Logistics shares fall 2.1% on market debut

By 0433 GMT, shares in the company were trading at 425.55 rupees on the National Stock Exchange, down 0.80 percent versus its issue price of 429 rupees.