Snowman Logistics reports positive growth in Q2

During the quarter ended September 30, 2021, Snowman Logistics Ltd recorded a Revenue of INR 70.07 Crores against INR 57.69 Crores in Q2 FY20-21. EBITDA increased by 25% to INR 19.03 Crores from INR 15.19 Crores in the corresponding quarter of the previous year. PBT increased to INR. 2.01 Crores from INR. (1.73) Crores in the corresponding quarter of the previous year and PAT increased to INR 0.47 Crore in the current quarter from INR (1.73) Crores in the same period in the previous year.

Speaking about the quarter performance, Mr. Sunil Nair, CEO, Snowman Logistics Ltd said, "Most of our strategies have started delivering. Our expansions in Siliguri and Mumbai are commissioned. Our SnowLink Technology platform (transport aggregation model) has also picked up well. We are happy that we have been able to sustain the improved performance shown during the last quarter. With most of our customers getting back to pre-covid level operations, we expect our performance to further improve in the coming quarters."

Mr. Prem Kishan Dass Gupta, Chairman, Snowman Logistics Ltd commented, "The new capacities added recently are expected to reach optimum utilization before the end of the year. The next facility at Coimbatore will also be operational in this quarter, after which we will be embarking on our next phase of expansion where we will be setting up operations in new locations as well as increasing capacities in some of the existing locations."

Shares of Snowman Logistics Limited was last trading in BSE at Rs. 42.90 as compared to the previous close of Rs. 43.55. The total number of shares traded during the day was 189804 in over 1327 trades.

The stock hit an intraday high of Rs. 44.75 and intraday low of 42.55. The net turnover during the day was Rs. 8309649.00.

Source : Equity Bulls

Keywords

SnowmanLogistics INE734N01019 TransportationLogistics Q2FY22 H1FY22