Shadowfax profit jumps over 8x to record Rs 65 crore as revenue rises to Rs 1,358 crore in Q1 FY27

India’s logistics company Shadowfax Technologies has reported a more than 700% increase in quarterly profit, supported by higher delivery volumes across its express and hyperlocal businesses.

PAT rose to Rs 65 crore in the three months to 30 June 2026, from Rs 8 crore during the same period a year earlier, according to the company’s unaudited consolidated results. Shadowfax said it was the highest quarterly profit in its history.

Its Revenue from operations increased by 64.9% to Rs 1,358 crore, compared with Rs 824 crore a year earlier. It was also 9.8% higher than in the preceding quarter.

Adjusted earnings before interest, tax, depreciation and amortisation rose to Rs 67 crore from Rs 24 crore, while the corresponding margin widened to 4.9% from 2.9%.

The Bengaluru-based company handled 24.7 crore express and hyperlocal orders during the quarter, an increase of 83.3% from a year earlier and 9.2% from the previous three months. 

Express delivery remained its largest business. Revenue from the division rose by 87.3% to Rs 997 crore, while the number of express orders increased by 94.9% to 19.8 crore.

Hyperlocal revenue, which includes quick-commerce, food and other on-demand deliveries, grew by 53% to Rs 272 crore. Hyperlocal order volumes increased by 47.4% to 4.9 crore.

Revenue from Other Logistics fell by 21.5% from a year earlier to Rs 89 crore. However, it was 10.9% higher than the Rs 80 crore recorded in the previous quarter.

Shadowfax provides logistics services to ecommerce companies, D2C brands, online retailers, food marketplaces, quick-commerce platforms and on-demand mobility businesses.

Its last-mile network included an average of more than 2.9 lakh unique delivery partners who completed transactions during the quarter. The company reported 5,095 operating touchpoints and coverage of 16,372 pin codes.

Shadowfax added 716 pin codes during the quarter and said it was expanding its network by about 200 to 250 pin codes a month. It is targeting nationwide pin-code coverage by the 2027-28 financial year.

The company estimates that it held between 28% and 30% of India’s third-party logistics express market in the June quarter. Shadowfax said its market-share figures for the 2025-26 financial year and the latest quarter were based on its own estimates.

It is also expanding its quick-commerce and dark-store operations. Its dark-store network grew to 47 locations from 15 in the previous quarter, with operations in Delhi, Bengaluru, Mumbai, Chennai, Hyderabad and Pune. The company said it was on track to operate more than 100 dark stores.

According to Shadowfax, Amazon Now was “ramping up ahead of plan”, adding that it was gaining a larger share of the platform’s logistics business. 

Abhishek Bansal, Shadowfax co-founder and CEO, said: “Q1 has been our best quarter yet, the most profitable in our history, with sequential growth sharper than in Q4 and growth momentum still building.”