Snowman Logistics reports ₹60 crore revenue for Oct-Dec quarter 

January 18, 2021: During the quarter ended on December 31, 2020, the cold chain logistics player Snowman Logistics recorded revenue of ₹60.18 crore against ₹58.76 crore in Q3 FY19-20. 

EBITDA increased to ₹17.45 crore from ₹14.32 crore in the corresponding quarter of the previous year. PBT increased to ₹1.42 crore from ₹3.28 crore in the corresponding quarter of the previous year and PAT increased to ₹1.42 crore in the current quarter from ₹3.44 crore in the same period in the previous year.

The BSE filing of Snowman also noted, "We also wish to inform that the board of directors of the company appointed Sunil Prabhakaran Nair as CEO and whole-time director of the company for a further period of three years with effect from February 13, 2021. 

Also read: Snowman reserves space for 7 cr Covid-19 vaccine doses across India

Sunil Nair, CEO, Snowman Logistics, said, “In spite of impact due to Covid-19, we could maintain healthy numbers.  Our initiative to revisit the operations processes considering the Covid-19 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.”

Prem Kishan Dass Gupta, chairman, Snowman Logistics, said, “The company is performing well and the net debt stands at ₹30.53 crore compared to ₹66.92 crore 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.”