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Snowman reports record growth of 55% revenue in Q2 2022 & EBITDA of 27%
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Saturday, 12 November, 2022, 15 : 00 PM [IST]
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Our Bureau, Mumbai
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During the quarter ended September 30, 2022, Snowman Logistics Ltd recorded revenue of Rs 108.62 crore as against Rs 70.07 crore for the same period in the previous year, registering a growth of 55%. EBITDA increased to Rs 24.11 crore from Rs 19.03 crore, registering a 27% growth for the same period in the previous year and PAT increased to Rs 2.67 crore from Rs 0.47 crore in the corresponding quarter of the previous year.
Speaking about the quarter’s performance, Sunil Nair, CEO, Snowman Logistics Limited, said, “I am happy that the strategies and efforts are visible in terms of improved performance. With the launch of 5PL Services in the name of SnowDistribute, we expect to keep this momentum going. We have recently started offering this value-add service and will be rolling it out to more customers over the next few months."
Prem Kishan Dass Gupta, chairman, Snowman Logistics Limited, commented, “This has been the best performing quarter in the company’s history, in terms of revenue and EBITDA, and going ahead we see very good utilisation levels being maintained, and at the same time we are exploring new locations for setting up of both temperature controlled and dry warehouses.”
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