Mahindra Logistics Q3 results: Rs 1,898 turnover, 19 per cent jump from last year

MUMBAI: After nearly three years in the doldrums, Mahindra Logistics has finally steered itself back into the black. The firm reported a consolidated revenue of Rs 1,898 crore for the third quarter ended 31 December 2025, a 19 per cent jump compared to the same period last year. This turnaround marks a “defining inflection point” for the integrated logistics provider, snapping a grim run of eleven consecutive loss-making quarters. 

The recovery was broad-based. The freight forwarding segment surged by 33 per cent, while the mobility business grew 38 per cent on the back of new B2B contract wins. Even the express business saw a 19 per cent rise in volumes. Managing director and CEO Hemant Sikka attributed the revival to “sharper execution” and a ruthless approach to cost discipline. This included a strategic retreat from low-margin activities in the last-mile delivery business and the exit from unviable customer relationships. 

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) climbed to Rs 103 crore, up from Rs 74 crore a year prior. While reported profit after tax stood at Rs 3.25 crore, the “operational” figure, stripping out a Rs 7.36 crore exceptional hit from new labour code retiral benefits, was a more robust Rs 9.2 crore.