According to a top corporate executive, Mahindra Logistics has had a major effect on the profitability in the previous two months owing to lockdowns in several states, but it is currently back on a stronger path of recovery and expects this momentum to further strengthen over the second half of this fiscal.
With COVID-19 limitations being relaxed in different states, the firm is hopeful that the enthusiasm in the business outlook acquired in June would be carried through to the third and fourth quarters of FY2022.
In terms of preparing for the anticipated third wave of the COVID-19 pandemic, the firm has implemented numerous internal initiatives to address and reduce the effect of a fresh wave of covid infections.
In explaining recent problems, Rampraveen Swaminathan, MD and CEO of Mahindra Logistics, stated that the firm witnessed an impact due to lockdowns in terms of demand across various locations. He went on to say that e-commerce, for example, was limited to only necessary services.
”We will probably see wave three impact, but with the higher level of preparedness across the country, the impact we are hoping will not be as widespread or as limiting as wave two was,” he said.
According to Swaminathan, the situation will improve beginning in the second quarter when the current pandemic wave is dealt with properly under control. According to him, given the backdrop of a wide recovery beginning in the second quarter, they are quite optimistic and that Mahindra Logistics should return to the robust production rate.
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Hello, my name is Anuj Boruah. I am quite interested in writing about current events in business, finance, and the economy. I work as a newswriter at Reviewminute.