Shadowfax revenue grows 65% to Rs 1,159 Cr in Q3 FY6; profit spikes 5X

Logistics and last-mile delivery firm Shadowfax Technologies has announced its financial results for Q3 FY26 after debuting on Indian stock exchanges last quarter. The firm’s revenue increased by 65% during the third quarter, while its profit stood at Rs 35 crore.

The company’s revenue from operations increased to Rs 1,159 crore in Q3 FY26 from Rs 701 crore in the same quarter last year, according to its financial statement sourced from NSE.

Shadowfax operates in the last-mile and hyperlocal logistics space, serving ecommerce marketplaces, D2C brands and quick commerce players. It competes with players such as Delhivery, XpressBees, Ecom Express and Ekart, in a segment marked by intense competition.

Other income contributed an additional Rs 7 crore, which drove its total income of Rs 1,166 crore for the quarter. For the nine-month period ending December 2025, the firm’s revenue increased 67% to Rs 2,965 crore from Rs 1,772 crore a year earlier.

The company did not provide proper expense breakup, however its finance cost rose 65% to Rs 109 crore in Q3 FY25 from Rs 66 crore in Q3 FY25. Finance cost and depreciation cost stood at Rs 6 crore and Rs 32 crore respectively. Overall, the company’s total expense rose 62% to Rs 1,131 crore in Q3 FY26 from Rs 700 crore in Q3 FY25.

Shadowfax posted a profit spiked 5X Rs 35 crore in Q3 FY26, as compared to Rs 7 crore in Q3 FY25. On a sequential basis, the company’s profit increased 2.7X from Rs 13 crore in Q2 FY26.

Shadowfax Technologies' shares debuted on Indian exchanges at a muted discount, listing at Rs 112–113 (nearly 9% below the Rs 124 IPO upper price band). The company had raised Rs 1,907 crore via the IPO, which was open from January 20–22.

At the end of today’s trading session, Shadowfax’s share price traded at Rs 125, giving the firm a total market capitalization of Rs 6,249 crore ($796 million).