Snowman Logistics, a leading integrated “temperature controlled” logistics company, shares hit a 52-week high of Rs 56.30 during the intraday session of 24 August after the company’s promoter increased its stake in the company.

The promoter of Snowman Logistics, Gateway Distriparks, has bought an additional 11 lakh shares or 0.66% stake in the logistics company at an average price of Rs 53.36 per share.

As of June 2023, Gateway Distriparks held a 41.75% stake in the company.

In June, the promoter bought an additional 14 lakh shares in the logistics company through an open market transaction at an average price of Rs 43.32 per share.

Snowman Logistics reported healthy growth in its June quarterly report, with a 79% YoY increase in its net profit at Rs 3.38 crore.

The company reported a 48% YoY jump in its Revenue from operations at Rs 128.77 crore for the same period.

EBITDA (earnings before interest, taxes, depreciation and amortization) also grew by 20% to Rs 25.42 crore.

Snowman Logistics offers warehousing and distribution services and has warehouse facilities in Bangalore, Mumbai, and Chennai.

At 1:10 pm, the shares of Snowman Logistics were trading at Rs 54.20 or 1.31% above its previous close on NSE.