EBITDA, PAT profitability achieved with 33% growth in FY24: Shadowfax
Shadowfax Technologies, a provider of e-commerce express parcels and value-added services (VAS), has announced that it has become profitable in both Adjusted PAT and EBITDA for the financial year, with revenue growing 33% year-on-year, from Rs 1,415.1 crore in FY23 to Rs 1,884.8 crore in FY24. EBITDA improved significantly, shifting from a loss of Rs 113.5 crore in FY23 to a profit of Rs 11.4 crore in FY24, while Adjusted PAT moved from a loss of Rs 123.8 crore to a profit of Rs 2 crore.
Shadowfax has further diversified its revenue streams, with the majority share now coming from value-added services (VAS). These services include Prime solutions (Same Day and Next Day delivery), Reverse Logistics, Hand-to-Hand Exchange, and the rapidly expanding Quick Commerce (10-minute delivery).
Over the past few years, Shadowfax has accelerated its investments in the middle-mile network, exceeding Rs 200 crore to automate its 40 sort centers, which now span over 1 million square feet. On the technology front, key innovations such as Shadowfax Maps for enhanced delivery accuracy and Shadowfax Shield for fraud detection have significantly boosted operational efficiency, driving this financial success.
Abhishek Bansal, CEO of Shadowfax Technologies, said in a statement: «We are thrilled with last year’s performance, particularly in how our efforts have transformed the D2C logistics landscape. Our innovations, like Prime Same Day Delivery and Quick Commerce 10 minute to 2 hour delivery services, are creating powerful
