Snowman reports ₹66 crore revenue, ₹17 crore EBITDA in Q1 FY22

July 27, 2021: During the quarter ended June 30, 2021, Snowman Logistics recorded revenue of ₹66.06 crore against ₹55.12 crore in Q1 FY20-21 and ₹64.11 crore in Q4 FY20-21.

EBITDA decreased to ₹17.35 crore from ₹18.03 crore in the corresponding quarter of the previous year (₹17.80 crore in Q4 FY20-21) and PAT decreased to ₹0.60 crore in the current quarter from ₹0.78 crore in the same period in the previous year (₹0.42 crore loss in Q4 FY20-21).

Sunil Nair, CEO, Snowman Logistics, said, “We are happy that the movement of food and pharma products has been improving. This helped us improve our transportation business. Our technology platform for aggregating the transport partners and making them part of a larger end to end offering is working well and helped us clock better revenues. As we move forward, we hope to make it more effective. Operations for Sputnik distribution have streamlined during June, and we are currently facilitating distribution of vaccines across the country from five hubs.”

Prem Kishan Dass Gupta, chairman, Snowman Logistics Ltd said, “Our new projects in Siliguri and Coimbatore are well underway, and we have been able to add capacity in our existing facilities at Mumbai, Chandigarh and Krishnapatnam. With that, we will be touching a capacity of 120,000 pallets in three months. Our current national average utilisation is above 94 percent, though in most locations we are running at more than 100 percent capacity so, in order to meet the fast-growing demand of our customers, we are now planning to expand our network in our existing markets as well as new cities across the country.”