Swiggy Q2: Losses Narrow To Rs 626 Crore, Firm Clocks 30 Per Cent Jump In Revenue

The online delivery company’s loss stood at Rs 626 crore in the second quarter of the current FY25, narrowing 5 per cent from Rs 657 crore logged in the July-September quarter a year earlier

This marks the first public financial results declaration by the firm since it went public last month.

Source : PTI

Food and grocery delivery firm Swiggy reported a revenue of Rs 3,601.5 crore in the July-September quarter, logging a gain of 30 per cent from Rs 2,763.3 crore reported in the corresponding period a year earlier. This surge in revenue was attributed to the increase in the number of users that transacted on the platform, official filings revealed.

The firm also clocked an improvement in its consolidated losses, reported Moneycontrol. The online delivery company’s loss stood at Rs 626 crore in the second quarter of the current fiscal year 2024-25 (FY25), narrowing 5 per cent from Rs 657 crore logged in the July-September quarter a year earlier.

The company’s major rival, Zomato, recorded a revenue of Rs 4,799 crore and a profit after tax of Rs 272 crore during the period under review. 

This marks the first public financial results declaration by the firm since it went public last month. In the quarter under review, the company witnessed a jump of a million in its monthly transaction users (MTU). The overall user base of the firm touched 17.1 million, rising 7 per cent on a quarter-on-quarter (QoQ) basis and 19 per cent on a year-on-year (YoY) basis.

Elaborating on the results, Sriharsha Majety, MD and Group CEO, Swiggy, noted, “The remarkable performance of our food business operations comes on the back of strong innovation and execution. We are constantly trying to anticipate and improve the consumer's experience. The recent launch of Bolt- our 10-minute delivery service is an example of that. Similarly in quick commerce, we are anticipating and responding to consumer behaviour to bring more and more convenience to urban households. Instamart today is present in 54 cities and delivers more than 32000 unique items, within an average delivery time of 13 minutes.”