Snowman delivered strong performance with 33% increase in total income in Q1

Over three-fold jump in Profits in the first quarter of 2022-23
Snowman delivered strong performance with 33% increase in total income in Q1
Photo - Snowman Logistics

During the quarter ended June 30, 2022, Snowman Logistics recorded revenue of Rs 87.29 Crores as against Rs 66.06 Crores for the same period in the previous year. EBITDA increased to Rs 21.26 Crores from Rs 17.35 Crores for the same period in the previous year and PAT increased to INR 1.89 Crores from Rs 0.60 Crores in the corresponding quarter of the previous year.

Speaking about the quarter performance, Sunil Nair, chief executive officer, Snowman Logistics said, “Most of our strategies have started yielding numbers to us. SnowLink, our technology platform for aggregating transport resources, have shown a promising growth. Similarly, our initiative of going asset light for eCommerce and Dry warehousing for food and pharma requirements have also improved. Price corrections with customers have been positive, as their business come back to pre-covid normal."

Prem Kishan Dass Gupta, chairman, Snowman Logistics commented, “Apart from regular warehousing and transportation, we are now starting to offer a host of integrated solutions to our customers for taking care of all their supply chain needs. With improvement in pricing and growing demand, the Company has been generating very healthy cash flows, and we are happy to declare a dividend for the shareholders.”

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