Mahindra Logistics on Tuesday reported a 19.13 per cent fall in consolidated net profit to Rs 15.67 crore for the December 2019 quarter.
The company had clocked a profit of Rs 19.34 crore in the year-ago period, according to a BSE filing. Its total income declined to Rs 909.94 crore during the quarter, against Rs 982.67 crore in the corresponding period a year ago. The firm’s total expenses declined to Rs 888.60 crore in the October-December 2019 period as against Rs 951.80 crore in the year-ago period.
“Q3 FY20 (third quarter of 2019-20) revenue from non-Mahindra non-auto supply chain businesses grew by 12 per cent over Q3 2018-19. While despite seasonal improvement in demand, overall demand environment remains soft in the auto industry,” the company said in a statement. The firm said it was strong quarter for e-commerce vertical, driven by higher demand during festival peak and added it will continue to expand value-added services for e-commerce customers.