Snowman Logistics slides after Q2 PAT slumps 79% YoY in FY25

Snowman Logistics slipped 3.43% to Rs 66.95 crore after the company's net profit tumbled 79.18% to Rs 0.61 crore in Q2 FY25 as against Rs 2.93 crore posted in Q2 FY25.

However, Revenue from operations jumped 15.66% year-on-year (YoY) to Rs 143.45 crore in the quarter ended 30 September 2024.

Profit before tax stood at Rs 0.84 crore in the second quarter of FY25, down 81.97% from Rs 4.66 crore posted in the same period a year ago.

EBITDA stood at Rs 23.10 crore in the September quarter, down 9.55% as against Rs 25.54 crore posted in Q2 FY24.

On segmental front, revenue from warehousing services was at Rs 55.67 crore (down 1.20% YoY), revenue from transportation services was at Rs 35.82 crore (up 12.04% YoY) and revenue from trading and distribution stood at Rs 51.96 crore (up 45.54% YoY) during the quarter.

On half year basis, the companys standalone net profit decreased 61.96% YoY to Rs 2.40 crore in H1 FY25 as compared to Rs 6.31 crore recorded in H1 FY24. However, revenue from operations jumped 12.21% YoY to Rs 283.67 crore in H1 FY25.

Prem Kishan Dass Gupta, chairman, Snowman Logistics, said, We had a robust Q2 quarter, with double digit revenue growth fueled by strong momentum in our 5PL business. We are pleased to announce the inauguration of our Lucknow warehouse and our expansion plans continue with more facilities in the pipeline with the goal of expanding our regional footprint and service capabilities. We have a strong demand forecast from the customers and with ongoing focus on cost optimization, Snowman is set to enhance profitability across our operations.

Snowman Logistics is the market leader in integrated temperature-controlled logistics and distribution services, catering to the varied cold chain logistical requirements of its clients, on a pan-India basis. With 45 strategically located warehouses, having a total pallet capacity of 1,43,285 across 20 cities. Snowman caters to its comprehensive network of reputed clients, which source and consume temperature-sensitive products in bulk amounts. Snowman caters to various services like dairy products including butter and cheese, canned food items, poultry and meat, seafood, healthcare, and pharmaceutical products.

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