Shadowfax Technologies: Riding High on Diversified Revenue Streams

Shadowfax Technologies, a third-party logistics provider, achieved a profit of Rs 2 crore in FY24, recovering from a loss of Rs 123.8 crore in FY23. The firm saw a 33% revenue increase, driven by diverse services like Prime solutions and quick commerce, and invested Rs 200 crore in its middle-mile network.

Shadowfax Technologies, a leading third-party logistics provider, posted a remarkable turnaround with an adjusted profit after tax (PAT) of Rs 2 crore for the fiscal year 2024. This comes as a stark contrast to a loss of Rs 123.8 crore in the previous fiscal year.

The Bengaluru-based company reported a significant 33% increase in revenue, soaring from Rs 1,415 crore in FY23 to Rs 1,885 crore in FY24. A major factor in this growth is the diversification of revenue streams, especially the upsurge in value-added services.

Shadowfax's innovative services, including Prime solutions, reverse logistics, and rapid delivery options, have positioned it as a market leader with more than a 50% share in these sectors. The company has also invested over Rs 200 crore in upgrading its middle-mile network, automating its 40 sort centers and enhancing delivery efficiency.

(With inputs from agencies.)