India's Mahindra Logistics swings to loss on higher costs, weak ... - Reuters

Mahindra Logistics, India's freight carrier, reported a net loss of INR 85.5 million ($1.04 million) in Q1, compared to a profit of INR 135.2 million a year ago, due to higher expenses and weak demand. Consolidated total expenses rose by nearly 10% to INR 12.99 billion. The company expects demand to improve in FY24 as offices return to normal. Shares of Mahindra Logistics fell 2.7% after the announcement.

Source: Link