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Snowman Logistics Sees 23% Revenue Growth, 27% PAT Increase in Q3FY24

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During the quarter ending December 31, 2023, Snowman Logistics Ltd achieved revenue of INR 124.05 crore, marking a 13% increase from the previous year’s INR 109.39 crore. The EBITDA rose to INR 27.50 crore, up by 9% from the previous year’s INR 25.14 crore. Additionally, the Profit After Tax (PAT) surged to INR 4.25 crore from the previous year’s INR 3.74 crore, reflecting a growth of 14% compared to the corresponding quarter of the previous year.

For the nine months ending December 31, 2023, Snowman Logistics Ltd reported a revenue of INR 376.83 crore, marking a 23% increase from the previous year’s INR 305.30 crore. The EBITDA rose to INR 78.46 crore, reflecting an 11% growth from the previous year’s INR 70.51 crore. Additionally, the Profit After Tax (PAT) increased to INR 10.56 crore from the previous year’s INR 8.30 crore, indicating a growth of 27% compared to the corresponding period of the previous year.

“Speaking about the company performance, Sunil Nair, CEO, Snowman Logistics Limited, said, “In Q3, we typically face a carryover of the lean period from Q2, and this year has been no exception. However, we are pleased to have consistently performed better in both Revenue and EBITDA, and we look forward to a stronger performance in Q4”.

Prem Kishan Dass Gupta, Chairman, Snowman Logistics Limited, said, “We are pleased to announce that our new Guwahati location is now operational, which is under an asset-light model. Concurrently, the construction of our new facility in Calcutta is well underway. Our focus on expansion is ongoing as we evaluate new opportunities to increase our capacities, particularly in areas where we are already operating at full capacity and where the market is also experiencing growth, ensuring that we continue to meet the rising demand efficiently.”

Snowman Logistics specializes in handling bulk quantities of temperature-sensitive products. From dairy items such as butter and cheese to canned goods, poultry, meat, seafood, as well as healthcare and pharmaceutical products, Snowman delivers comprehensive solutions tailored to meet the stringent requirements of its clientele. Operating across 20 cities, including key hubs like Mumbai, Chennai, Bengaluru, and Kolkata, Snowman’s 45 strategically positioned warehouses offer 1,41,405 pallets of combined capacity.

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