Mahindra hopes express biz to turn profitable amid focus on cost efficiency

Quick Summary:

The losses for the Express business were reduced by 32 per cent on a year-on-year basis, driven by continuous cost optimisation, while EBITDA losses came down by 10 per cent on a sequential basis, the company said.

Mahindra Group on Thursday said it is expecting its express business to turn profitable amid its focus on getting back volumes to achieve cost efficiency.

The group's arm Mahindra Logistics Ltd (MLL) acquired the B2B express business of Rivigo in September 2022 and brought it under the MLL Express Services.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: BusinessFinance

Markets: India

Topics: Mahindra express Mahindra Group Mahindra Logistics Mahindra

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 22:31:18 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 510 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23463636

View Article Analysis

About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 335 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 5 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

Publisher Details

Frequently Asked Questions