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
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
