Snowman Logistics records 49% growth in revenue and a 30% increase in its EBITDA in Q3 ended December 2022

During the quarter that ended December 31, 2022, Snowman Logistics recorded revenue of INR. 109.39 crores as against INR 73.40 crores for the same period in the previous year, registering a growth of 49%. EBITDA increased to INR 25.14 Crores from INR 19.40 Crores, registering a 30% growth for the same period in the previous year and PAT increased to INR 3.74 Crores from INR 0.83 Crore in the corresponding quarter of the previous year.

Speaking about the quarter’s performance, Sunil Nair, chief executive officer, Snowman Logistics, said, “We expect to continue the momentum and grow from here. Our efforts towards offering services and solutions to complex and challenging operations are gaining traction, and we hope to add some new businesses to our kitty soon."

Prem Kishan Dass Gupta, chairman, Snowman Logistics, commented, “The new distribution model that we had started in the previous quarter has worked out well and is also helping increase the throughput of both our storage and transportation verticals. We are in the process of scaling up this vertical further. In addition, we are seeing strong demand in the dry warehousing segment as well, which we will be growing using an asset-light model by creating a network of warehousing space at new leased locations across the country, in addition to our existing facilities where we have a mix of frozen, chilled and dry warehousing.”