Shadowfax clocks five-fold jump in net profit in Q3, revenue up 65%

New-age logistics firm Shadowfax’s net profit jumped five-fold to Rs 35 crore in the December quarter of FY26, from Rs 6.4 crore a year ago, on the back of market share gains.
The Bengaluru-based company clocked an operating revenue of Rs 1,160 crore in Q3, up 65% year-on-year (YoY) from Rs 700 crore in the year-ago period, while its expenses rose 62% YoY to Rs 1,131 crore.

This is Shadowfax’s first earnings report after listing on the exchanges on January 28. The company raised Rs 1,000 crore through a fresh issue in its IPO (initial public offering), which also had a Rs 907 crore OFS (offer for sale) component.


Founded in 2015, Shadowfax was the second new-age logistics firm to go public after SoftBank-backed Delhivery, which listed in 2022.


During Q3 FY26, the company delivered 206 million customer orders across its Express and Hyperlocal services. It recorded a peak of 3.6 million daily orders during the festive season.

The company stated in its shareholder presentation that its market share had increased to over 23% in the first six months of FY26 from 8% in FY22.

“We aggressively captured market share by solving hard problems using a first-principles approach,” said Abhishek Bansal, managing director and CEO, Shadowfax, in the shareholder presentation.

Between April and December, the company invested Rs 140 crore to expand its network, automate sort centres, and deploy new technology. For the first nine months of FY26, its total revenue rose 67% YoY to Rs 2,965 crore