Are Mahindra Logis. latest results good or bad?

Mahindra Logistics has reported its financial results for the quarter ending March 2025, showcasing several noteworthy operational trends. The company experienced a year-over-year growth in net sales of 8.19%, although this represents a decline from the previous year's growth rate of 14.01%.
In terms of profitability, the operating profit (PBDIT) reached Rs 77.70 crore, reflecting a significant increase compared to the same quarter last year. The operating profit margin improved to 4.95%, indicating enhanced operational efficiency. However, the profit before tax (PBT) was recorded at Rs -1.24 crore, while the profit after tax (PAT) stood at Rs -6.75 crore, both of which are the best figures in the last five quarters, suggesting a trend towards improved profitability despite still being in negative territory. The earnings per share (EPS) also showed a movement towards less negative figures at Rs -0.94.

It is important to note that non-operating income constituted a significant portion of PBT, raising questions about the sustainability of the company's business model.

Additionally, the company saw an adjustment in its evaluation over the past three months, reflecting the changes in its financial performance. Overall, while there are positive trends in certain operational metrics, challenges remain, particularly regarding profitability and reliance on non-operating income.