Shares of Mahindra Logistics were trading 2% higher on 23 April after the company announced its quarterly report for January-March.

The company reported a net loss of Rs 11.9 crore during the quarter under review from Rs Rs 0.20 crore net profit reported in the same quarter of the previous fiscal year.

However, its revenue from operations during the quarter stood at Rs 1,450.8 crore, marking a 14% year-over-year increase from Rs 1,272.5 crore reported in the same quarter of the previous fiscal year.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) fell 11.1% YoY to Rs 56.6 crore during the quarter from Rs 63.7 crore in the corresponding period in the previous fiscal year. The EBITDA margin decreased to 3.9% from the previous fiscal year’s 5%.

Furthermore, on April 22, the company informed exchanges that the board had approved Rampraveen Swaminathan’s reappointment as managing director and chief executive officer, effective for a five-year term.

Mahindra Logistics is an integrated logistics and mobility solutions provider offering supply chain solutions to the automotive, consumer goods, pharmaceutical, and e-commerce industries.

At 12:45 pm, the shares of Mahindra Logistics were trading 1.97% higher at Rs 452 on NSE.