Quarterly Results: Snowman Logistics Ltd

Technical View:

Snowman Logistics Ltd., is currently trading at Rs. 59.05, down by 2.35 points or 3.83% from its earlier closing of Rs. 61.4 on the BSE.

The scrip has touched a high and low of Rs. 59.3 and Rs. 51 respectively, after opening at 56. Altogether 1479434(NSE+BSE) shares were traded on the counter; and the stock is currently trading above its 100 DMA.

Snowman Logistics Ltd Q2FY17 results:

Bloomberg estimates were higher than Snowman Logistics Ltd.'s actual Q2FY17 numbers. Revenue has come in 9.4% lesser than the estimate of Rs 52 cr and net loss of Rs 8 cr is reported inplace of estimated net profit of Rs 3 cr.

The quarter's revenue has dipped 15.1% yoy to Rs 47 cr as revenue from temperature controlled services dropped by 10.7%.

Snowman's reported EBITDA has tumbled by 61% yoy to Rs 4.2 cr while EBITDA margins have shrunken by 1055 bps yoy to 9%. This was majorly owing to doubling of other expenses partly offset by 24% and 31% yoy dip in operating and employee benefit expenses respectively.

The company's net loss stands at Rs 8.3 cr compared to net profit of Rs 2.9 cr in same quarter last year. This was majorly driven by 21.3% yoy dip in other income and 36.7% yoy surge in finance costs.