Snowman Logistics eyeing double-digit revenue growth this year
Snowman Logistics posted an operationally strong set of numbers this quarter. Their net profit however was impacted by a tax expense.
The year on year (YoY) revenue was up 16.2 percent at Rs 51.8 crore versus Rs 44.57 crore. EBITDA was also up at Rs 12.55 crore versus Rs 6.12 crore. Margins were up at 24.2 percent versus 13.7 percent YoY.
However, profit after tax was down to Rs 1.88 crore versus Rs 3.62 crore for the corresponding quarter of last fiscal impacted by tax expenses of Rs 1.27 crore versus tax credit of Rs 10.8 crore for the same quarter last fiscal.
Throwing more light on the outlook for the current financial year, AM Sundar, CFO, Snowman Logistics said the fourth quarter performance is sustainable going forward and they expect to be profitable in the current fiscal.
On a blended level, the company is looking at improving margins to around 25 percent and a double-digit revenue growth in financial year 2019, said Sundar.
He said the worst is over for the company, the year 2016-17 was a problematic year, while 2017-18 was a year of consolidation. However, as result of all the strategic changes, 2018-19 would be good and would reward the shareholders.
First Published: May 16, 2018 1:27 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024 — how regional parties are challenging national giants in Phase-4
May 15, 2024 6:17 AM
Supreme Court refuses plea seeking 6-year poll ban on PM
May 14, 2024 7:14 PM
Punjab Lok Sabha elections 2024: A look at BJP candidates
May 14, 2024 7:06 PM
Lok Sabha polls: EC disposes of 90% complaints related to MCC violations
May 14, 2024 4:45 PM