Mahindra Logistics buys Rivigo’s B2B express biz for Rs 225cr

During FY 2021-22, Rivigo’s B2B express business reported a turnover of Rs 371.3 crore. Mahindra Logistics today announced the acquisition of the B2B express business of Rivigo for Rs 225 crore ($28 million) in cash. “Rivigo operates in two key business segments: Full Truck Load and B2B express business. During FY 2021-22, Rivigo’s B2B express […]

Maersk launches EVs in India

The deployment will be for B2B middle mile distribution; can cover a distance of around 100 km with a max 650 kg payload. In a move to decarbonise road transportation in India, Danish carrier Maersk launched electric vehicles with plans to cover 77 percent of postal codes. “With the unveiling of our electric vehicles today, […]

SpiceXpress Q1 net profit at Rs 18 crore

Net profit continues to increase QoQ despite a significant increase in ATF prices and a depreciating rupee. SpiceXpress, the cargo division of SpiceJet, reported revenue of Rs 239 crore ($29.9 million) for the first quarter ended June 30, 2022, and a net profit of Rs 18 crore ($2.3 million) despite high ATF prices. Profit margin […]

Govt working on one logistic law for all modes of transportation: Gadkari

The government is working on bringing a single logistic law for all modes of freight transportation to eradicate duplication of processes and simplify procedural requirements, Union minister Nitin Gadkari said on Friday. The Road Transport and Highways Minister further said the public-private partnership model should be encouraged for the development of air cargo infrastructure in […]

Logistics company Porter mulls expanding into 10 more cities in FY23

Porter claims a customer retention rate of 65 percent operating with four lakh partner drivers and a customer base of 80 lakh Bengaluru Porter, an intercity logistics company, plans to launch in ten more cities in FY23 with an operational expenditure of one million dollars per city. “In order to get to a new city, […]