During the quarter ended March 31, 2024, Snowman Logistics Ltd reported impressive financial results with a revenue of INR 126.54 crores, up from INR 112.35 crores in the same period last year. The company’s EBITDA rose to INR 29.86 crores, compared to INR 25.56 crores in the previous year’s corresponding quarter. However, the PAT for this quarter stood at INR 2.15 crores, down from INR 5.10 crores in the previous year.
On an annual basis, Snowman Logistics recorded revenue of INR 503.37 crores, a significant increase from INR 417.65 crores in the previous year. The annual EBITDA improved to INR 108.32 crores from INR 96.07 crores, while the PAT for the year was INR 12.71 crores, slightly lower than the previous year’s INR 13.40 crores. The decline in PAT is attributed to a deferred tax asset reversal of INR 4.34 crores, which does not impact cash flow.
CEO Sunil Nair expressed satisfaction with the results, stating, “We are happy with the result which is in line with our plans. Surpassing the threshold of INR 500 crores in revenue and INR 100 crores in EBITDA helps us look at larger numbers in the near future. Construction at our Kolkata and Lucknow projects is on track and these facilities are expected to be operational in Q2 of this year.”
Chairman Prem Kishan Dass Gupta highlighted the company’s exceptional performance, saying, “I am proud to announce that our company has performed exceptionally well, reflecting the fast-growing infrastructure and exemplary service have established us as the foremost provider in the nation, a distinction consistently acknowledged by our esteemed customers.”
Looking ahead, Gupta emphasised the company’s commitment to expansion, “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.”
These robust results and strategic expansions reinforce Snowman Logistics’ position as a leader in the cold chain logistics industry, with a clear path toward future growth and increased market share.
