Snowman Logistics posts 15% growth in revenue in Q4

May 16, 2019: During the quarter ended March 31, 2019, Snowman Logistics Ltd recorded revenue of Rs 59.80 crores as against Rs 51.82 crores for the same period in the previous year, registering a 15 percent growth. The earnings before interest, tax, depreciation, and amortisation (EBITDA) increased to Rs 18.14 crores from Rs 15.78 crores registering a 15 percent growth for the same period in the previous year, profit before tax (PBT) increased to Rs 5.45 crores from Rs 3.15 crores in the corresponding quarter of the previous year, registering a growth of 73 percent and profit after tax (PAT) increased to Rs 5.42 crores from Rs 1.88 crores in the corresponding quarter of the previous year registering a positive growth of 188 percent.

On an annual basis, revenue during 2018-19 was Rs 232.55 crores as against Rs 194.28 crores during the previous year, registering a growth of 20 percent. EBITDA increased to Rs 62.24 crores from Rs 48.31 crores, registering a growth of 29 percent, PBT increased to Rs 10.86 crores from a loss of Rs 3.56 crores during the previous year, a growth of 405 percent and PAT increased to Rs 9.72 crores from a loss of Rs 3.56 crores during the previous year, registering a growth of 373 percent.

Commenting on the results, Prem Kishan Gupta, chairman, Snowman Logistics, said, "The company has focused on improving efficiencies to increase customer satisfaction as well as drive profitability, as is evident in the financial results. We are confident that this performance is sustainable & scalable. Growth has always been a vital component for us at Snowman; we are constantly expanding our network with a long-term outlook to meet the increasing demand as an end-to-end cold chain logistics service provider. Further expansion is currently in the pipeline with new locations being planned."

Speaking about the quarter performance, Sunil Nair, CEO, Snowman Logistics said, "The growth in business continues to maintain the trend. The company's objective remains to improve asset utilisation, offer end-to-end solutions and the addition of value-added services to serve our customers further. We nurture such relationships. Our target on customers in the pharma, quick service restaurant (QSR), ready to cook/eat and seafood segments have helped us achieve better results and increase our yield per pallet. The team is focused on efficiency building and cost optimisation initiatives to ensure the best in industry performance."