Snowman Logistics reports increase in revenue and EBITDA in Dec. 2021

During the quarter ended December 31, 2021, Snowman Logistics Ltd recorded a Revenue of INR 73.40 Crores against INR 60.18 Crores in Q3 FY20-21. EBITDA increased by 11% to INR 19.40 Crores from INR 17.45 Crores in the corresponding quarter of the previous year. PBT decreased to INR. 1.05 Crores from INR. 1.42 Crores in the corresponding quarter of the previous year and PAT decreased to INR 0.83 Crore in the current quarter from INR 1.42 Crores in the same period in the previous year.
Speaking about the quarter performance, Sunil Nair, CEO, Snowman Logistics Ltd said, “Our new tech platform, SnowLink, for aggregation of transportation capacity in cold chain space has started delivering numbers, and in addition we have been able to retain business and garner additional volumes during the recent COVID wave by supporting our customers with solutions to manage their supply chain. In addition, we have received increased demand from our Pharma and e-commerce customers.”
Prem Kishan Dass Gupta, Chairman, Snowman Logistics Ltd commented, “Our new e-commerce dedicated SnowServe facilities have become operational in Mumbai and Pune. The construction of our new facilities, under SnowPreserve, at Siliguri and Coimbatore were unfortunately delayed by about six months due to lack of labour as well as delays in supply of building materials because of COVID related restrictions. However, both facilities are now ready, and are expected to be fully utilised in the next financial year. Going ahead we are focusing on expanding towards dedicated warehouses for catering to specialised cargo that required temperature control apart from growing in our regular SnowPreserve vertical for handling multi temperature cargo.”