Snowman Logistics on Monday reported a 14 per cent year-on-year (YoY) rise in its revenue for the quarter that ended on 30 September 2023 at Rs 124.02 crore, compared to Rs 108.62 crore for the same period in the previous year.
Its Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) increased to Rs 25.54 crores from Rs 24.11 crores, witnessing a 6 per cent growth for the same period in the previous year.
The company’s profit after tax (PAT) increased to Rs 2.93 crores from Rs 2.67 crore in the corresponding quarter of the previous year.
During the half year ended 30 September 2023, Snowman Logistics recorded revenue of Rs 252.79 crores as against Rs 195.91 crore for the same period in the previous year, registering a growth of 29 per cent. PAT increased to Rs 6.31 crores from Rs 4.56 crore in the corresponding half-year of the previous year.
Sunil Nair, CEO, Snowman Logistics Limited said, “Q2 traditionally represents a lean season for our company. Despite this, our strategic initiatives have the potential to make it a successful quarter. Looking ahead, we have received strong commitments for volume from the Ice Cream, QSR (Quick Service Restaurants), and Seafood industries for the upcoming quarters. We are actively preparing to meet the growing demands of our existing customers, focusing on organic growth and sustaining our positive trajectory”.
Prem Kishan Dass Gupta, Chairman, Snowman Logistics Limited, said, “The Company continues to perform well, and we have a strong pipeline in the current quarter due to the festive season which leads to increased consumption during this period and a surge in demand. To cater to this surge, we have adequate capacities available in major metro cities as well as Tier-2 and Tier-3 citities, augmented by robust systems and processes to provide our customers with a strong backbone for managing their supply chain.”
