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It was just one day after the logistics player Mahindra Logistics announced a net loss of Rs 11.9 crore for the March quarter that the company’s shares experienced a decline of 1.4 percent at the opening of trading on April 23.

In comparison to the same time period the previous year, Mahindra Logistics had declared a profit of Rs 0.20 crore.

However, the company’s total sales increased by 14 percent year over year, reaching Rs 1,450.8 crore. While the EBITDA margin came in at 3.9 percent, it was 5 percent in the previous fiscal year. This is a fall of 11.1 percent from the previous year’s EBITDA, which was 56.6 crore. Earnings before interest, taxes, depreciation, and amortization is what stands for the abbreviation EBITDA.

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Additionally, on April 22, the business informed exchanges that the board of directors had given its approval for Rampraveen Swaminathan to be reappointed to his position as managing director and chief executive officer of the company for a period of five years.

It was 9.42 in the morning when the stock had recovered from its losses and was trading at Rs 446.60 on the National Stock Exchange. This represented an increase of 0.76 percent from the previous closure.

Supplier of integrated logistics and mobility solutions, Mahindra Logistics provides supply chain solutions to a variety of sectors, including the automotive industry, the consumer products industry, the pharmaceutical industry, and the e-commerce industry.