Shadowfax, a leading Indian last-mile logistics provider, posted a 57% year-on-year increase in operating revenue to Rs 1,537.7 crore in Q2 FY27, alongside a more than fivefold rise in net profit to Rs 68 crore. This robust performance is driven by growth in its express parcel and hyperlocal delivery businesses.
- Q2 FY27 operating revenue at Rs 1,537.7 crore, up 57% YoY
- Net profit rises fivefold to Rs 68 crore from Rs 13 crore last year
- Hyperlocal logistics revenue jumps 88% YoY, now 22% of total
What happened
In the July-September quarter of FY27, Shadowfax achieved a significant 57% increase in revenue from operations compared to the same period last year, reaching Rs 1,537.7 crore. The company also reported a net profit of Rs 68 crore, more than five times its profit in Q2 FY26, with sequential profit growth of 4% from the previous quarter. These results reflect strong demand in both express parcel and hyperlocal delivery segments.
The company delivered a total of 27.1 crore orders during the quarter, including 21.7 crore express parcel shipments and 5.4 crore hyperlocal deliveries. Shadowfax’s total income, including other income, stood at Rs 1,558.1 crore while its expenses grew by 54% year-on-year. The express parcel business remains the largest contributor, generating 71% of revenue, while hyperlocal logistics rose sharply to account for 22% of revenue.
Why it matters
Shadowfax’s strong revenue and profit growth underscore its expanding footprint in India’s highly competitive logistics market, where quick commerce and e-commerce delivery are rapidly evolving. Its ability to outpace expense growth and scale its profitable segments indicates improving operational efficiency and market share gains.
The rapid growth of the hyperlocal segment—delivering food and quick commerce orders—is particularly notable, as it nearly doubled its revenue and now makes up a significant portion of overall sales. This reflects rising demand for fast, local delivery services and positions Shadowfax ahead in a segment critical to India's evolving consumer economy.
What to watch next
Investors and industry observers will closely monitor Shadowfax’s performance in upcoming quarters to see if it can sustain its rapid growth momentum and profitability, especially given increasing competition from players like Delhivery and XpressBees. Any further improvements in operational costs and market penetration will be key indicators.
Additionally, the expansion of same-day delivery capabilities across over 120 Indian cities will be an important driver for the company’s future. Shadowfax’s ability to maintain speed as a competitive differentiator and capitalize on zero-commission and low-value food delivery models could shape its leadership position in last-mile logistics.