Snowman Logistics Q1FY2025 net profit drops 47%
Revenue from operations increased 9% to Rs 140 crore
Snowman Logistics reported a 47 percent decline in net profit at Rs 1.8 crore for the first quarter of financial year 2024-25 as against Rs 3.3 crore for the same period last year.
Revenue from operations increased nine percent to Rs 140.23 crore, says an official release. Total expenses increased 11 percent to Rs 138.47 crore.
While warehousing revenue increased six percent to Rs 59.27 crore, transportation services reported an eight percent increase at Rs 35.19 crore. Trading and other services reported revenue of Rs 45.77 crore, an increase of 12 percent.
“I am happy that we had consistent performance in generating revenue and as per expectations," says Sunil Nair, CEO & Whole Time Director, Snowman Logistics. "Our projects at Lucknow and Kolkata are almost at the finishing stage and should be functional in Q2 and Q3, respectively. At the same time, we will be making 35 new trucks operational in Q3.”
Prem Kishan Dass Gupta, Chairman, Snowman Logistics adds: “The cold chain industry is gaining a lot of traction as customers are looking for organised players with high-quality infrastructure, and we are well positioned to capture this growth as is evidenced by the performance of the company. We are in an expansion phase and will continue growing our network of warehouses.”
