In Q2 2024, Snowman Logistics Limited recorded revenues of INR 1,434.47 million, reflecting a year-on-year growth of 15.66% but a quarter-on-quarter increase of only 2.30%. The company's gross profit surged significantly by 225.85% year-on-year, amounting to INR 698.32 million, indicating a strong recovery in operational efficiency. However, despite these positives, net income fell substantially by 79.02% year-on-year to INR 6.15 million, primarily due to increased operational costs and a pressured market environment.
Management emphasized the importance of strategic growth initiatives, including expanding their refrigerated fleet and enhancing service offerings. They are confident that these investments will position Snowman Logistics favorably within the competitive landscape, benefiting from the rising demand for temperature-controlled logistics services across various sectors, particularly in pharmaceuticals and fresh food distribution.