Snowman Logistics Reports Strong Quarterly Performance and Future Plans

Snowman Logistics Ltd reported revenue growth to INR 126.54 Crores for Q1 2024, compared to INR 112.35 Crores in the previous year. EBITDA increased to INR 29.86 Crores, but PAT declined to INR 2.15 Crores due to deferred tax asset reversal. Annual revenue surpassed INR 500 Crores.

Mumbai: Snowman Logistics Ltd has reported substantial growth in its quarterly performance for the quarter ending March 31, 2024. The company achieved a revenue of INR 126.54 Crores, compared to INR 112.35 Crores during the same period last year. EBITDA also saw a rise, reaching INR 29.86 Crores from INR 25.56 Crores.

However, the Profit After Tax (PAT) for the quarter posted at INR 2.15 Crores, showing a decline from INR 5.10 Crores. The annual revenue for Snowman Logistics surged past the significant milestone of INR 500 Crores, recording INR 503.37 Crores, while EBITDA also witnessed an increase to INR 108.32 Crores. The decline in PAT for the year was attributed to a deferred tax asset reversal of INR 4.34 Crores, which does not involve a cash outflow.

CEO Sunil Nair expressed satisfaction with the results, as they aligned with the company's strategic plans. Chairman Prem Kishan Dass Gupta praised the company's performance, attributing it to growing demand in the cold chain logistics sector and emphasized ongoing investments in expansion to maintain their market leadership.