homeearnings NewsMahindra Logistics Q4 profit falls to Rs 11 crore but management expects 25 30 bps gross margin improvement this fiscal
Mahindra Logistics Q4 profit falls to Rs 11 crore but management expects 25-30 bps gross margin improvement this fiscal
Mahindra Logistics on Tuesday reported a 9 percent decline in its net profit to Rs 11 crore for the quarter ended March. It had posted a net profit of Rs 12 crore in the year-ago period, the company said in a statement. Mahindra Logistics Managing Director and CEO Rampraveen Swaminathan said, “We do hope to expand gross margins to 25-30 basis points (bps).”
Mahindra Logistics has reported a 9 percent decline in its net profit to Rs 11 crore for the quarter ended March. It had posted a net profit of Rs 12 crore in the year-ago period, the company said in a statement. Revenue rose to Rs 1,073 crore in the quarter under review as compared to Rs 974 crore in the same period a year ago.
Mahindra Logistics Managing Director and CEO Rampraveen Swaminathan, in an interview with CNBC-TV18, after the results came out, said, “We do hope to expand gross margins to 25-30 basis points (bps) in FY23.”
The company continues to witness a challenging external environment with global supply chain volatility. Despite these headwinds, it remains focused on improving the operational efficiencies and margin expansion, he added.
For the full interview, watch the accompanying video
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(With inputs from PTI)
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