Snowman Logistics closes Q2 of 2023 at a positive note

During the quarter ended September 30, 2022, Snowman Logistics Ltd recorded revenue of INR. 108.62 Crores as against INR 70.07 Crores for the same period in the previous year, registering a growth of 55%. EBITDA increased to INR 24.11 Crores from INR 19.03 Crores, registering a 27% growth for the same period in the previous year and PAT increased to INR 2.67 Crores from INR 0.47 Crore in the corresponding quarter of the previous year.

Speaking about the quarters performance, Mr. Sunil Nair, CEO, Snowman Logistics Limited said, "I am happy that the strategies and efforts are visible in terms of improved performance. With the launch of 5PL Services in the name of SnowDistribute, we expect to keep this momentum going. We have recently started offering this value-add service and will be rolling it out to more customers over the next few months."

Mr. Prem Kishan Dass Gupta, Chairman, Snowman Logistics Limited commented, "This has been the best performing quarter in the Company's history, in terms of revenue and EBITDA, and going ahead we see very good utilisation levels being maintained, and at the same time we are exploring new locations for setting up of both temperature controlled and dry warehouses."

Shares of Snowman Logistics Limited was last trading in BSE at Rs. 39.70 as compared to the previous close of Rs. 38.55. The total number of shares traded during the day was 185366 in over 1420 trades.

The stock hit an intraday high of Rs. 41.00 and intraday low of 37.95. The net turnover during the day was Rs. 7381895.00.

Source : Equity Bulls

Keywords

SnowmanLogistics INE734N01019 Q2FY23 H1FY23 ResultUpdate