Business News

Mahindra Logistics envisions strong economic activity in H2 FY22

Spread the love

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.

NEWS SOURCE

ALSO READ: According to MG Motor, a sales rebound on the horizon with easing COVID restrictions

Recent Posts

As Ola’s Bhavish Aggarwal Faces Criticism, Zomato’s Deepinder Goyal Receives Praise for PR Savvy

The contrasting public images of two prominent Indian startup founders, Zomato's Deepinder Goyal and Ola's…

1 month ago

Singham Again Trailer Launch: What to Expect

The excitement is palpable as Ajay Devgn and director Rohit Shetty gear up for the…

1 month ago

Hardik Pandya Impresses with No-Look Ramp Shot and All-Round Performance in India’s First T20I Win Against Bangladesh

Hardik Pandya showcased his prowess as an allrounder in T20 cricket, contributing significantly with a…

1 month ago

New Haryanvi Song “Bahu Chaudhariya Ki” Launched by Aman Jaji and Pranjal Dahiya

HR Beat Production has unveiled its latest Haryanvi hit, "Bahu Chaudhariya Ki," featuring artists Aman…

2 months ago

Apple’s iPhone 16 Pro Max: Improved Battery Life and Camera Features, but Missing Key AI Updates

Apple's highly anticipated iPhone 16 series is set to launch on Friday, with the flagship…

2 months ago

Music Director Vipin Reshammiya, Father of Himesh Reshammiya, Passes Away at 87

Vipin Reshammiya, father of Himesh Reshammiya, has passed away at the age of 87. He…

2 months ago

This website uses cookies.