Shadowfax has reported a fivefold jump in quarterly profit, posting a net profit of Rs 68 crore for the September quarter (Q2 FY27), up from Rs 13 crore a year ago, as India's biggest new-age logistics player heads into the festive peak with record revenue.
Operating revenue rose 57% year on year and 13% sequentially to an all-time high of Rs 1,537.7 crore, with total income including other income at Rs 1,558.1 crore. The company said this was its sixth consecutive quarter of revenue growth above 55% YoY. Total expenses rose 53% to Rs 1,490.2 crore, slower than revenue, and adjusted EBITDA climbed 177% to Rs 77 crore, taking the margin to 5% from 2.8% a year ago.
The express parcel business remained the engine with Rs 1,096 crore in revenue, up 55% YoY, while the hyperlocal segment grew 88% to Rs 341 crore as quick commerce demand surged. Other logistics services added Rs 100 crore. Shadowfax delivered a combined 27.1 crore orders in the quarter, up nearly 70% YoY, with express parcel accounting for 21.7 crore and hyperlocal 5.4 crore.
The company, founded in 2015 by CEO Abhishek Bansal and Vaibhav Khandelwal and listed in January this year after a Rs 1,907 crore IPO, said its self-serve shipping platform Shadowfax 360 crossed 6,700 transacting sellers within two quarters of launch, two-thirds joining without a salesperson. It is launching micro-fulfilment centres aimed at eight-to-twelve-hour deliveries for D2C brands, and has deployed an in-house AI system that replans daily how more than 3,600 trucks connect over 5,500 touchpoints.
FundForge Insight: Indian logistics has spent a decade buying growth with discounts; Shadowfax's quarter is the counter-case, where 57% growth comes with a fivefold profit jump because density, not subsidy, is doing the work. Watch the hyperlocal line: at 88% growth it is becoming the margin story as quick commerce rewires who pays for last-mile capacity.
"We head into the festive peak with more capacity than ever, and with an AI-led optimisation engine planning our national network every day. Shadowfax expects to remain India's fastest-growing 3PL while delivering industry-leading returns," Bansal said. Shares of Shadowfax traded about 1.3% higher at Rs 294.15 on the BSE following the results. Sources: Economic Times, Inc42 (October 29, 2026). This is not investment advice.
