Snowman Logistics sustains improved performance in Q2

MUMBAI : Snowman Logistics surged 5.13% to Rs 45.10 after the company reported net profit of Rs 0.47 crore in Q2 September 2021 compared with net loss of Rs 1.73 crore in Q2 September 2020.

Net sales 21.46% to Rs 70.07 crore in Q2 September 2021 over Q2 September 2020. Pre-tax profit was reported at Rs 2.01 crore in Q2 September 2021 compared with pre-tax loss of Rs 1.73 crore in Q2 September 2020.

Revenue from warehousing services stood at Rs 44.92 crore (up 14.36%), revenue from transportation services was at Rs 23.43 crore (up 31.19%) and revenue from consignment agency services came in at Rs 1.70 crore (up 214.81%) during the period under review.

EBITDA increased by 25% to Rs 19.03 crore from Rs 15.19 crore in the corresponding quarter of the previous year.

Speaking about the quarter performance, Sunil Nair, CEO, Snowman Logistics said: “We are happy that during the current quarter we have been able to sustain the improved performance shown during the last quarter. With most of our customers getting back to pre-covid level operations, we expect our performance to further improve in the coming quarters.”

Prem Kishan Dass Gupta, Chairman, Snowman Logistics commented: “The new capacities added recently are expected to reach optimum utilization before the end of the year. The next facility at Coimbatore will also be operational in this quarter, after which we will be embarking on our next phase of expansion where we will be setting up operations in new locations as well as increasing capacities in some of the existing locations.”

Snowman Logistics is the market leader in integrated temperature-controlled logistics services, catering to the varied cold chain logistical requirements of its clients, on a pan-India basis.