Snowman Logistics quarterly revenue increases but PAT falls; stock ends ~10% higher

On an annual basis, revenue during 2019-20 was Rs240.20cr as against to Rs232.55cr during the previous year. The FY20 PAT decreased to Rs15.01cr from a profit of Rs9.72cr during the previous year.

Jun 05, 2020 04:06 IST India Infoline News Service

Snowman Logistics
Snowman Logistics reported revenue of Rs60.98cr for the quarter ended March 31, 2020, as against Rs59.80cr for the same period in the previous year.

However, quarterly Profit after Tax decreased to Rs1.17cr from Rs5.42cr in the corresponding quarter of the previous year. EBITDA decreased to Rs15.39cr from Rs16.67cr for the same period in the previous year.

On an annual basis, revenue during 2019-20 was Rs240.20cr as against to Rs232.55cr during the previous year. The FY20 PAT decreased to Rs15.01cr from a profit of Rs9.72cr during the previous year. EBITDA increased to Rs63.38cr from Rs62.24cr. EBITDA of FY20 Includes positive impact of Rs13.58cr due to newly adopted Lease Accounting (Ind As 116) and corresponding EBITDA% impact is 5.7%.

Commenting on the results, Prem Kishan Gupta, Chairman, Snowman Logistics Ltd said, “We are satisfied with the results posted by the Company in a year in which it had to face a series of cyclones which impacted the seafood industry. After brief phase of consolidation, the Company is back on its expansion mode and will be starting work on setting up new warehouses during the current year.”

Snowman Logistics Ltd itrade on Friday ended at Rs31.50 up by Rs2.85 or 9.95% from its previous closing of Rs28.65 on the BSE.

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