Brands
Mahindra Logistics Q3 results: Rs 1,898 turnover, 19 per cent jump from last year
MUMBAI: After nearly three years in the doldrums, Mahindra Logistics has finally steered itself back into the black. The firm reported a consolidated revenue of Rs 1,898 crore for the third quarter ended 31 December 2025, a 19 per cent jump compared to the same period last year. This turnaround marks a “defining inflection point” for the integrated logistics provider, snapping a grim run of eleven consecutive loss-making quarters.
The recovery was broad-based. The freight forwarding segment surged by 33 per cent, while the mobility business grew 38 per cent on the back of new B2B contract wins. Even the express business saw a 19 per cent rise in volumes. Managing director and CEO Hemant Sikka attributed the revival to “sharper execution” and a ruthless approach to cost discipline. This included a strategic retreat from low-margin activities in the last-mile delivery business and the exit from unviable customer relationships.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) climbed to Rs 103 crore, up from Rs 74 crore a year prior. While reported profit after tax stood at Rs 3.25 crore, the “operational” figure, stripping out a Rs 7.36 crore exceptional hit from new labour code retiral benefits, was a more robust Rs 9.2 crore.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
