Monday, March 18, 2019


Snowman Logistics records revenue of Rs 51.82 crore for Q4 of 2017-18
Thursday, 17 May, 2018, 08 : 00 AM [IST]
Our Bureau, Bengaluru
For the quarter ended March 31, 2018, Snowman Logistics Ltd recorded revenue of Rs 51.82 crore as against Rs 44.57 crore for the same period in the previous year, registering a 16 per cent growth.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased to Rs 12.55 crore from Rs 6.13 crore, registering a 105 per cent growth for the same period in the previous year.

Profit before tax (PBT) increased to Rs 3.15 crore from a loss of Rs 7.19 crore in the corresponding quarter of the previous year, registering a positive growth of 144 per cent.
On an annual basis, sales during 2017-18 was Rs 194 crore as against to Rs 189 crore during the previous year.

Profit before interest and tax (PBIT) increased to Rs 8.30 crore from Rs 1.42 crore, registering a growth of 685 per cent, while profit before tax (PBT) for the year was a loss of Rs 3.56 crore as against a loss of Rs 15.48 crore during financial year (FY) 2017.
Commenting on the result, Prem Kishan Gupta, chairman, Snowman Logistics, said, “During the year 2017-18, the company further consolidated its position as market leader with the addition of a new warehouse at Krishnapatnam.”

“The initiatives undertaken in the previous year to strengthen the business model bore results in the current year, with the company posting profits at the profit after tax (PAT) level during the second half,” he added.

“The robust growth plans projected by key customers has necessitated a need for more cold storage and distribution capacity, which the company plans to address by further expanding in the coming years,” Gupta said.
Commenting on the result, Sunil Nair, the company’s chief executive officer, said, “I am thankful to my customers and team who have stood by us during the challenging time last year.”

“We have overcome the challenges faced during the previous year arisen from demonetisation and the implementation of Goods and Services Tax (GST),” he added.

“We were one of the first ones who successfully implemented the GST and e-way bill process. And now we are back on the growth path,” Nair said.

“The coming year is expected to be exciting with strong growth numbers projected resultant a strong consumption. We have moved a step ahead by offering our clients integrated operations, with services such as Customs clearance, empty container procurement and port pick-up and delivery at the same location,” he added.

“Our focus on cost optimisation and improving utilisation continues. With the addition of the Krishnapatnam warehouse, our total pallet capacity has gone up to 1,06,964 pallets, thus further strengthening the company’s position as a market leader in the industry,” Nair said.
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