Snowman Logistics Sept qtr Net at Rs 2.29 cr

Snowman Logistics Ltd (SLL) today reported a net profit of Rs 2.29 crore for the quarter ended September 30, 2014.
During the quarter, sales increased to Rs 48.27 crore and the EBITDA increased to Rs 9.93 crore, a company statement said here.
Its warehouse capacity reached 79,500 pallets as compared to 53,130 pallets(YOY) during the period. Higher capital investment has resulted in increased depreciation and interest cost compared to previous quarter and the added capacity would result in higher occupancy in the coming quarters and with the repayment of loans the interest cost will reduce, the release said.
SLL is one of the largest integrated temperature controlled logistics service providers in India with an ability to service customers on a pan India basis.

It provides warehousing, distribution, transportation and value added services and it currently has a warehousing capacity of 79,500 pallets spread across 27 warehouses and 15 locations, the release said.
The expansion of Chennai warehouse having 5,000 pallets capacity would complete the expansion as proposed in the prospectus is currently underway.
Further, the Company has also started construction of additional warehouses at Mumbai having 4,500 pallets capacity and proposes to set up a 5,000 pallet warehouse in Bangalore, the release said.