Snowman Logistics Ltd reported a revenue of INR 126.54 crore for the quarter ended March 31, 2024, compared to INR 112.35 crore for the same period in the previous year. EBITDA increased to INR 29.86 crore from INR 25.56 crore year-over-year, while PAT for the quarter was INR 2.15 crore, down from INR 5.10 crore in the corresponding quarter of the previous year.
Annually, the company recorded a revenue of INR 503.37 crore for FY 23-24, up from INR 417.65 crore the previous year (FY22-23). EBITDA rose to INR 108.32 crore from INR 96.07 crore, but PAT for the year was INR 12.71 crore, slightly lower than INR 13.40 crore the previous year. The decline in PAT was due to the deferred tax asset reversal of INR 4.34 crore, which is not a cash outflow.
Commenting on the performance, Sunil Nair, CEO, Snowman Logistics, said, “We are pleased with these results, which align with our plans. Surpassing the threshold of INR 500 crore in revenue and INR 100 crore in EBITDA positions us to target even larger numbers in the near future. The construction at our Kolkata and Lucknow projects is progressing well, and these facilities are expected to be operational in Q2 of this year.”
Prem Kishan Dass Gupta, Chairman, Snowman Logistics, commented, “I am proud to announce that our company has performed exceptionally well, reflecting the fast-growing demand in the cold chain logistics industry. Our state-of-the-art infrastructure and exemplary services have established us as the foremost provider in the nation, a distinction consistently acknowledged by our esteemed customers.” He further added, “Moving forward, we are resolutely committed to continued investment in additional locations and the expansion of our network, ensuring our sustained leadership in this dynamic sector.”
