Consolidated net loss for the logistics arm of Mahindra Group stood at 128.5 million rupees (USD 1.5 million) in the quarter ending March 31, compared with a loss of 8.2 million rupees a year ago.
The company declared a dividend on 2.5 rupees per share.
Logistics companies expect to see a muted fourth quarter as activity slowed ahead of general elections in India.
Demand slowdown in key manufacturing sectors like auto and industrial goods directly impacts third-party logistics companies.
Mahindra Logistics, which makes more than 90% of its revenue from supply chain management, has 80% of this revenue flowing in from automobile segment.
While diesel and aviation turbine fuel (ATF) prices declined 2% and 7%, respectively, year-on-year in the fourth quarter, this did not offset the impact of muted volumes.
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