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COMPANY REPORT

Snowman clocks 33% rise in revenues in Q1
Wednesday, 03 August, 2022, 13 : 00 PM [IST]
Our Bureau, Bengaluru
Snowman Logistics recorded revenue of Rs 87.29 crore, as against Rs 66.06 crore, for the same period in the previous year. EBITDA increased to Rs 21.26 crore, from Rs 17.35 crore, for the same period in the previous year and PAT increased to Rs 1.89 crore, from Rs 0.60 crore in the corresponding quarter of the previous year.

Sunil Nair, CEO, Snowman Logistics Limited, said, “Most of our strategies have started yielding numbers to us. SnowLink, our technology platform for aggregating transport resources, have shown a promising growth. Similarly, our initiative of going asset light for E-commerce and dry warehousing for food and pharma requirements have also improved. Price corrections with customers have been positive, as their business comes back to pre-Covid normal."

Prem Kishan Dass Gupta, Chairman, Snowman Logistics Limited commented, “Apart from regular warehousing and transportation, we are now starting to offer a host of integrated solutions to our customers for taking care of all their supply chain needs. With improvement in pricing and growing demand, the Company has been generating very healthy cash flows, and we are happy to declare a dividend for the shareholders.”
 
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