Snowman Logistics Records 13% Revenue Growth in Q3 FY'24

During the quarter ended December 31, 2023, Snowman Logistics Ltd recorded revenue of INR. 124.05 Crores as against INR 109.39 Crores for the same period in the previous year, registering a growth of 13%. EBITDA increased to INR 27.50 Crores as against INR 25.14 Crores for the same period in the previous year, registering a 9% growth and PAT increased to INR 4.25 Crores from INR 3.74 Crore, registering a 14% growth as compared to the corresponding quarter of the previous year.

Snowman Logistics: Revenue Surge

During the nine months ended December 31, 2023, Snowman Logistics Ltd recorded revenue of INR. 376.83 Crores as against INR 305.30 Crores for the same period in the previous year, registering a growth of 23%. EBITDA increased to INR 78.46 Crores as against INR 70.51 Crores for the same period in the previous year, registering 11% and PAT increased to INR 10.56 Crores as against INR 8.30 Crores for the same period in the previous year, registering a 27% growth.

Speaking about the performance, Mr. Sunil Nair, CEO, Snowman Logistics Limited said, “In Q3, we typically face a carryover of the lean period from Q2, and this year has been no exception. However, we are pleased to have consistently performed better in both Revenue and EBITDA, and we look forward to a stronger performance in Q4”.

Mr. Prem Kishan Dass Gupta, Chairman, Snowman Logistics Limited, said, "We are pleased to announce that our new Guwahati location is now operational, which is under an asset light model. Concurrently, the construction of our new facility in Calcutta is well underway. Our focus on expansion is ongoing as we evaluate new opportunities to increase our capacities, particularly in areas where we are already operating at full capacity and where the market is also experiencing growth, ensuring that we continue to meet the rising demand efficiently."