Snowman Logistics records 49% growth in revenue in third quarter of FY22-23
EBITDA increased to ₹25.14 Crores from ₹19.40 Crores, registering a 30% growth for the same period in the previous year and PAT increased to ₹3.74 Crores from ₹0.83 Crore in the corresponding quarter of the previous year
During the quarter that ended December 31, 2022, Snowman Logistics Ltd recorded revenue of ₹109.39 Crores as against ₹73.40 Crores for the same period in the previous year, registering a growth of 49%.
EBITDA increased to ₹25.14 Crores from ₹19.40 Crores, registering a 30% growth for the same period in the previous year and PAT increased to ₹3.74 Crores from ₹0.83 Crore in the corresponding quarter of the previous year.
Speaking about the quarter’s performance, Sunil Nair, CEO, of Snowman Logistics Limited said, “We expect to continue the momentum and grow from here. Our efforts towards offering services and solutions to complex and challenging operations are gaining traction and we hope to add some new businesses to our kitty soon."
Prem Kishan Dass Gupta, Chairman, of Snowman Logistics Limited commented, “The new distribution model that we had started in the previous quarter has worked out well and is also helping increase the throughput of both our storage and transportation verticals. We are in the process of scaling up this vertical further. In addition, we are seeing strong demand in the dry warehousing segment as well, which we will be growing using an asset-light model by creating a network of warehousing space at new leased locations across the country, in addition to our existing facilities where we have a mix of frozen, chilled and dry warehousing.”
Snowman Logistics is a leading player in integrated temperature-controlled logistics services, catering to the varied cold chain logistical requirements of its clients, on a pan-India basis. With 43 strategically located warehouses, having a total pallet capacity of 1,29,924 across 17 cities including the key markets of Mumbai, Chennai, Bengaluru, and Kolkata, Snowman caters to various services and segments like dairy products including butter and cheese, canned food items, poultry, and meat, seafood, healthcare, and pharmaceutical products.