The company’s adjusted profits after tax (Pat) moved from a loss of Rs 123.8 crore in the financial year 2022-23 to a profit of Rs two crore in FY24
Registering healthy growth in its performance, Shadowfax Technologies, a provider of ecommerce express parcels and value-added services (VAS) has witnessed a 33 per cent year-on-year (YoY) rise in its revenue in the financial year 2024 (FY24). As per the financial results of the company, its revenue rose from Rs 1,415.1 crore in FY23 to Rs 1,884.8 crore in FY24.
The company witnessed profitability in adjusted profits after tax (Pat) as it moved from a loss of Rs 123.8 crore in the financial year 2022-23 to a profit of Rs two crore in FY24. The adjusted Pat includes Pat as well as the ESOP cost (FY24 ESOP cost of Rs 14.2 crore). The earnings before interest, tax, depreciation and amortisation (EBITDA) improved as well. EBITDA saw a shift from a loss of Rs 113.5 crore in FY23 to a profit of Rs 11.4 crore in FY24.
“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 differentiators for our partners, allowing them to meet consumer expectations faster and more efficiently. Additionally, technology advancements such as Shadowfax Maps and Shield have enabled us to scale operations, improve delivery accuracy and optimise resources,” stated Abhishek Bansal, Chief Executive Officer (CEO) of Shadowfax Technologies.
As per the statement from the company, over the past few years, it has accelerated its investments in the middle-mile network, exceeding Rs 200 crore to automate its 40 sort centers, which now span over one million square feet. Shadowfax last year introduced Prime Delivery, offering same-day and next-day delivery services to over 200 brands in the top 50 metros across the country. This service has seen growth, with almost 10 per cent of the company’s total orders now falling into the Prime category.
