Mumbai : Mahindra Logistics Ltd. (MLL), one of India’s large 3PL solutions providers, today announced its audited consolidated financial results for the quarter and full year ended on March 31, 2021.
The Board of Directors has recommended an increased dividend of 25% (Rs. 2.50 per share)
Note: During the quarter and year ended March 31, 2021, the company has, as an exceptional item in its consolidated financials, recognised an aggregate impairment loss of Rs. 2.75 Cr (March 31, 2020: Rs. Nil) on its investment in joint venture considering the performance of the joint venture company, Transtech Logistics Pvt Ltd.
Key Highlights
Commenting on the performance, Mr. Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics, said,
“We delivered continuing growth in Q4, FY20-21, driven by market recovery 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 continuing softness in the Enterprise Mobility segment, which remains impacted by the Covid-19 pandemic. We continue to expand and grow our service lines. During the quarter, ‘Edel’, our 100% electric powered vehicles solution, commenced operations in the last mile delivery services.
We are again witnessing a significant increase in the spread of the Covid-19 pandemic. In this challenging environment, we are focused on safety & health of our employees and partners. We are also partnering with local authorities and supporting Covid-19 relief activities across multiple regions.”
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