Snowman Logistics reports positive growth in Q2FY22

On Wednesday, Snowman Logistics,a  provider of integrated cold chain solution to users in India, declared its quarterly results for Q2FY22. The company was able to sustain the improved performance shown during the last quarter. Most of its strategies have started delivering and expansions in Siliguri and Mumbai are commissioned.

During the quarter ended September 30, 2021, Snowman Logistics Ltd recorded a revenue of Rs 70.07 crore against Rs 57.69 crore in Q2FY21. EBITDA increased by 25 per cent to Rs 19.03 crore from Rs 15.19 crore in the corresponding quarter of the previous year. PBT increased to Rs 2.01 crore from loss of Rs 1.73 Crores in the corresponding quarter of the previous year and PAT increased to Rs 0.47 crore in the current quarter from net loss of Rs 1.73 crore in the same period in the previous year.

In Wednesday's trading session, when the equity markets showed bearish signs and closed in red, the share of Snowman Logistics has zoomed 6.06 per cent. The stock has delivered negative returns in last 6 months as well as on a YTD basis. On the charts, for quite a few trading sessions, the stock was trading in a sideway trend with minimal spurt in volumes. On October 20, it has caught attention by forming a comparitively long green candle and trading with a positive breakout in RSI.

Snowman Logistics is the market leader in integrated temperature-controlled logistics services, catering to the varied cold chain logistical requirements of its clients, on a pan-India basis. With 37 strategically located temperature-controlled warehouses, having a total pallet capacity of 1,13,544 across 16 cities including the key markets of Mumbai, Chennai, Bengaluru & Kolkata.