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Third-party logistics player Shadowfax Technologies reported profitability in both Adjusted PAT and EBITDA for the financial year FY24.

The company reported a 33% year-on-year growth in revenue from Rs 1,415.1 crore in FY23  to Rs 1,884.8 crore in FY24. 

Shadowfax also witnessed a significant improvement in its EBITDA, 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 2.0 crore, according to a statement.

Abhishek Bansal, CEO of Shadowfax Technologies attributed the positive results to the increase in quick delivery services as well as the company’s focus on technology that helped it scale operations.

Last year, Shadowfax launched Prime Delivery, offering Same Day and Next Day delivery services to over 200 brands in the top 50 metros across the country. Additionally, Shadowfax is currently one of the largest 3PLs in quick commerce, collaborating with all major brands leading this space to facilitate last-mile delivery.

The company recently crossed 250,000 daily orders in this segment and has experienced more than a five-fold growth here in the past year, states its release.

In another development, the company is also proposing a network of dark stores to help D2C brands and sellers of lifestyle products reach their customers faster and in an “economical” way. 

Using these dark stores, sellers may not be able to fulfill online orders within minutes, but they can reach customers in two to four hours, especially in densely populated areas. 

Shadowfax—which began piloting this model around four months ago—currently operates 10 such stores in Mumbai, Delhi and Bengaluru.