Snowman Logistics reports record growth of 55% revenue in Q2 2022 and EBITDA of 27%

During the quarter that ended September 30, 2022, Snowman Logistics 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 quarter’s performance, Sunil Nair, chief executive officer, Snowman Logistics, 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."

Prem Kishan Dass Gupta, chairman, Snowman Logistics, 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 utilization levels being maintained, and at the same time we are exploring new locations for setting up of both temperature-controlled and dry warehouses.”