Snowman’s revenue grows to ₹70 cr in Q2 as strategies start delivering
During the quarter ended September 30, 2021, Snowman Logistics recorded revenue of ₹70 crore against ₹57 crore in Q2 FY20-21.
October 20, 2021: During the quarter ended September 30, 2021, Snowman Logistics recorded revenue of ₹70 crore against ₹57 crore in Q2 FY20-21.
Sunil Nair, CEO, Snowman Logistics, said, “Most of our strategies have started delivering. Our expansions in Siliguri and Mumbai are commissioned. Our SnowLink Technology platform (transport aggregation model) has also picked up well. We are happy that 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.”
EBITDA increased by 25 percent to ₹19 crore from ₹15 crore in the corresponding quarter of the previous year. PBT increased to ₹2.01 crore from ₹ (1.73) crore in the corresponding quarter of the previous year and PAT increased to ₹0.47 crore in the current quarter from ₹ (1.73) crore in the same period in the previous year.
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.”