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India's Bellwether Logistic Company, Snowman Logistics, Back on the Growth Track

Press Trust of India  |  BENGALURU 

/ -- Quarter Highlights:

up by 19% compared to corresponding Quarter last year

EBITDA increased by 10% compared to corresponding Quarter last year

PAT increased by 774% compared to corresponding Quarter last year

During the third quarter ended December 31, FY 2018-19, Snowman recorded a of Rs. 59.34 crores as against Rs. 49.81 crores during the corresponding quarter ended December 31, 2017, an increase of 19%. While EBITDA increased by 10 % to Rs. 14.39 crores as compared to Rs. 13.11 crores during the corresponding quarter and PAT increased to Rs. 2.35 crores as against Rs. 0.27 crores during the corresponding quarter, an increase of 774% in profit.

Commenting on the results, Mr. Prem Kishan Gupta, Chairman, Snowman Logistics Ltd., said, "The turnaround witnessed in the performance of the Company since the 3rd Quarter of the last year continues, with the company reporting Q-o-Q growth in sales and profits for the fifth straight quarter. While continued improvement in the performance of the existing facilities is evident, the Company is also on track to expand capacities at select locations in the near future."

Speaking about the quarter performance, Mr. Sunil Nair, CEO, Snowman Logistics Ltd., said, "We are glad that we have put majority of the capacity to use and demonstrated continuous growth in and profit. We were successful in creating a lot of value-add service models and are exploring the same with many clients. We will continue to work on various opportunities available to improve our performance."

About Snowman Logistics

Snowman Logistics is the in integrated temperature controlled logistics services, catering to the varied logistical requirements of its clients, on a pan-basis. With strategically located temperature controlled warehouses, having a total pallet capacity of 1,06,964 across multiple cities, including the key markets of Mumbai, Chennai, and Kolkata, Snowman caters to its comprehensive network of reputed clients, which source and consume in bulk amounts. They cater to various services like including butter and cheese, canned food items, poultry and meat, seafood, and

Pallet Capacity - 1,06,964; No. Warehouses across the country - 33; No. of reefer vehicles 297

For more information, visit https:nowman.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 08 2019. 14:20 IST