New Delhi, Jul 24 (PTI) Mahindra Logistics on Monday posted a consolidated net loss of Rs 9 crore for April-June 2023-24.

It had posted Rs 13 crore net profit in the corresponding period of 2022-23, according to a BSE filing.

Also Read | Hyderabad Shocker: Man Throws Himself Under Moving Bus, Dies; Chilling Video of Suicide Goes Viral.

Total income however increased to Rs 1,299.40 crore from Rs 1,202.99 crore in the year-ago quarter. Expenses soared to Rs 1,298.83 crore as against Rs 1,184.02 crore.

"In Q1 FY24, we continued focusing on customer growth and expanding margins across integrated logistics & mobility solutions. Despite the slowdown in some end markets, mobility and last mile businesses demonstrated positive traction on order intake and account expansion. We remain optimistic of positive demand uptick in coming quarters and remain focused on consolidating and leveraging our portfolio," Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics said.

Also Read | Twitter Losing Blue Bird? Elon Musk Rebranding Twitter to 'X.com' with an X Logo Replacing the Iconic Bird Emblem.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)