FY23-24 Q2 Results: Snowman Logistics registers 14% growth in revenue

Snowman Logistics

PRESS RELEASE

FY23–24 Q2 Results: Snowman Logistics registers 14% growth in revenue – During the H1 that ended September 30, 2023, the company records growth of 29% in revenue and an EBITDA of 12%.

Mumbai, 6th November 2023: During the quarter ended September 30, 2023, Snowman
Logistics Ltd recorded revenue of INR. 124.02 Crores as against INR 108.62 Crores for the same period in the previous year, registering a growth of 14%. EBITDA increased to INR 25.54 Crores from INR 24.11 Crores, registering a 6% growth for the same period in the previous year and PAT increased to INR 2.93 Crores from INR 2.67 Crore in the corresponding quarter of the previous year.

During the half year ended September 30, 2023, Snowman Logistics Ltd recorded revenue of
INR. 252.79 Crores as against INR 195.91 Crores for the same period in the previous year, registering a growth of 29%. EBITDA increased to INR 50.96 Crores from INR 45.37 Crores, registering a 12% growth for the same period in the previous year and PAT increased to INR 6.31 Crores from INR 4.56 Crore in the corresponding half year of the previous year. “Speaking about the performance, Mr. 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”.

“Mr. 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.“