Latest News | Business Brief Snowman Logistics Return to Profit in Jul-Sept

Mumbai, Oct 20 (PTI) Snowman Logistics on Wednesday reported a profit of Rs 0.47 crore in three months to September against a loss of Rs 1.72 crore in the same quarter last year.

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The company's revenue increased 21.45 per cent to Rs 70.07 crore in the second quarter of the fiscal as against a revenue of Rs 57.69 crore during Q2FY21, Snowman Logistics said in a statement.

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Most of the company's strategies have started delivering with expansions in Siliguri and Mumbai already in place, said Sunil Nair, CEO, Snowman Logistics.

Prem Kishan Dass Gupta, Chairman, Snowman Logistics, said that the new capacities added recently are expected to reach optimum utilization before the end of the year. The next facility at Coimbatore will also be operational in this quarter, after which we will be embarking on our next phase of expansion where the company will be setting up operations in new locations as well as increasing capacities in some of the existing locations.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)