During the quarter ended March 31, 2024, Snowman Logistics Ltd (“Company”) recorded revenue of INR 126.54 Crores as against INR 112.35 Crores for the same period in the previous year. EBITDA increased to INR 29.86 Crores from INR 25.56 Crores for the same period in the previous year and PAT during the quarterwas INR 2.15 Crores as against INR 5.10 Crores in the corresponding quarter of the previous year.
On an annual basis, the Company recorded revenue of INR 503.37 Crores as against INR 417.65 Crores during the previous year. EBITDA increased to INR 108.32 Crores from INR 96.07 Crores and PAT during the year was INR 12.71 Crores as against INR 13.40 Crore during the previous year. The reason for the decline in PAT is due to the deferred tax asset reversal of INR 4.34 Crores which is not a cash outflow.
Speaking about the performance, Mr. Sunil Nair, CEO, Snowman Logistics said, “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 EBTIDA 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.”
Mr. 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.”