Mahindra Logistics revenue grows 14% to ₹1,625 crore despite PAT loss

Mahindra Logistics reported a 14% year-on-year increase in consolidated revenue for the first quarter of FY26, reaching ₹1,625 crore, driven by strong growth in its 3PL, last-mile delivery, and express logistics businesses.

However, the company continued to post a net loss, with its Q1FY26 PAT standing at ₹10.8 crore compared to a loss of ₹9.32 crore in the same quarter last year.

The express business achieved a key milestone by crossing ₹100 crore in quarterly revenue for the first time. EBITDA for the quarter stood at ₹76 crore, up from ₹66 crore in Q1FY25. Yet, the bottom line remained under pressure due to evolving customer mix and tariff-related challenges in cross-border trade affecting the freight forwarding segment.

Compared to Q4FY25, revenue rose marginally from ₹1,570 crore to ₹1,625 crore, while EBITDA dipped slightly. Profit before tax turned negative at ₹5.8 crore, from a modest profit of ₹0.9 crore in the preceding quarter.

On a standalone basis, MLL reported a revenue of ₹1,346 crore, with a PAT of ₹6.44 crore, down from ₹10.22 crore in Q1FY25. Earnings per share dropped to ₹0.89 from ₹1.42 year-on-year.

The company’s mobility segment saw improved profitability, aided by new customer acquisitions and better fleet efficiency. The logistics footprint also expanded, with 21.1 million sq. ft. of warehousing space under management. Notably, the Cummins India Logistics Centre in Phaltan was recognised as “Best Supplier of the Year – Indirect Sourcing” by Cummins.

“Our performance this quarter reflects the momentum of our shared purpose,” said Hemant Sikka, MD and CEO of MLL. “While revenue growth was encouraging, especially in express and last-mile delivery, we remain focused on building future-ready capabilities and improving operating discipline.”

MLL continues to pursue an asset-light model, serving over 400 corporate clients across industries including automotive, engineering, e-commerce and consumer goods.