Mahindra Logistics Q1 revenue rises to ₹20 billion, PAT grows
Growth was driven by strong performance across contract logistics, express and mobility businesses, while warehouse space under management expanded.
Mahindra Logistics reported a 23% year-on-year increase in consolidated revenue to ₹20.03 billion for the first quarter ended June 30, 2026. The company posted a profit after tax (PAT) of ₹254 million, compared with a loss of ₹108 million in the same quarter last year, marking its fourth consecutive quarter of profit improvement. EBITDA rose 51% year on year to ₹1.15 billion.
The company said the revenue growth was supported by broad-based performance across its contract logistics, express and mobility businesses. Earnings per share (EPS) stood at ₹2.55, compared with a loss per share of ₹1.44 in the corresponding quarter of the previous financial year.
The contract logistics business recorded 26% year-on-year revenue growth, while EBITDA increased 31%. The company attributed the improvement to operating efficiencies, cost discipline, better customer-level profitability and operating leverage.
The express business grew 58% year on year and 10% sequentially, supported by higher volumes and improved yields. The company said this resulted in better gross margins and EBITDA for the fourth consecutive quarter.
In the last-mile delivery business, EBITDA improved to ₹26 million from a loss of ₹5 million a year earlier. Revenue declined 16% year on year as the company focused on serving more profitable customers amid pricing and cost pressures.
The mobility business expanded 38% year on year, driven by new customer additions in the business-to-business segment, while EBITDA increased 8%. Warehouse space under management reached 21.9 million square feet, with an additional 1.52 million square feet added during the quarter.
Commenting on the results, Hemant Sikka, Managing Director and CEO of Mahindra Logistics, said the quarter reflected continued progress in the company's transformation and growth journey. He said strong revenue growth, a return to healthy profitability and improved business fundamentals were supported by disciplined execution, operational efficiency and customer-level profitability. He added that the company remained focused on profitable growth, intelligent scale, customer experience and technology-led logistics solutions.
