Snowman Logistics Q3 results announced

MUMBAI: During the quarter ended December 31, 2020, Snowman Logistics Ltd recorded a Revenue of INR 60.18 Crores against INR 58.76 Crores in Q3 FY19-20. EBITDA increased to INR 17.45 Crores from INR 14.32 Crores in the corresponding quarter of the previous year. PBT increased to INR 1.42 Crores from INR. (3.28) Crores in the corresponding quarter of the
previous year and PAT increased to INR 1.42 Crores in the current quarter from INR (3.44) Crores in the same period in the previous year.

Speaking about the quarter performance, Mr. Sunil Nair, CEO, Snowman Logistics Ltd said, “In spite of impact due to COVID, we could maintain healthy numbers. Our initiative to revisit the operations processes considering the COVID precautions and at the same time cost reduction has worked. Our aggressive business pipeline has ensured respectable utilization. Transport business is also on the path to recovery in Q3.”

Commenting on the results, Mr. Prem Kishan Dass Gupta, Chairman, Snowman Logistics Ltd said, “The Company is performing well and the net debt stands at INR 30.53 Crores compared to INR 66.92 Crores twelve months ago. The Company is adding capacities to the existing facilities as well as building new cold storages in new geographies thereby increasing our footprint. This is in line with the fast-growing demand of our customers in the organized sector.”