Snowman Logistics shares rise 11% on Q1 earnings, interim dividend

Shares of Snowman Logistics rose over 11% on Thursday after the firm reported its Q1 earnings. Snowman Logistics logged a 47% fall in Q1 net profit to Rs 1.59 crore compared to Rs 3.38 crore in the corresponding period last year. However, the company's revenue climbed 9% to Rs 140.23 crore in the last quarter against Rs 128.7 crore year-on-year.

EBITDA slipped to Rs 24.21 crore from Rs 25.42 crore a year ago.

The company also declared first interim dividend of Rs 1 per equity share for FY 2024-25. Record date for the purpose of ascertaining the eligibility of shareholders for payment of first interim Dividend has been fixed at August 21, 2024.

Snowman Logistics shares rose 11% to Rs 87.29 on Thursday against the previous close of Rs 78.60 on BSE.

Total 7.70 lakh shares of the firm changed hands amounting to a turnover of Rs 6.52 crore. The stock fell to a 52-week low of Rs 46.06 on October 26, 2023 and a 52 week high of Rs 88.98 on July 26, 2024. 

Snowman Logistics shares have delivered 67% and 162.50% returns in one and two years, respectively. 

Sunil Nair, CEO & Whole Time Director, Snowman Logistics said, “I am happy that we had consistent performance in generating revenue, and as per expectations. Our projects at Lucknow and Kolkata are almost at finishing stage and should be functional in Q2 and Q3 respectively. At the same time we will be making 35 new trucks operational in Q3.”

Snowman Logistics is engaged in integrated temperature-controlled logistics services, catering to the varied cold chain logistical requirements of its clients, on a pan-India basis. With 45 strategically located warehouses, having a total pallet capacity of 1,41,405 across 20 cities including the key markets of Mumbai, Chennai, Bengaluru & Kolkata etc. Snowman caters to its comprehensive network of reputed clients, which source and consume temperature-sensitive products in bulk amounts.