Food delivery platform Swiggy Ltd on February 5 reported that its net loss widened 39 percent to Rs 799 crore in the quarter ended December 31, 2024, regulatory filings showed. It reported a net loss of Rs 574 crore in the year-ago period.<\/p>\n\n\n\n
Swiggy’s revenue from operations rose 31 percent to Rs 3,993 crore in Q3FY25 as against Rs 3,049 crore in Q3FY24.<\/p>\n\n\n\n
“The secular expansion in Food delivery margins and cash flow generation is balanced by growth investments being made in Quick-commerce including dark stores expansion and marketing, amidst high competitive intensity in the near-term,” Sriharsha Majety, MD and Group CEO, Swiggy said in a prepared statement.<\/p>\n\n\n\n
Swiggy\u2019s results have come at a time when old rival Zomato also saw its profits\u00a0decline 57 percent on a year-on-year (YoY) basis to Rs 59 crore in the Q3.<\/p>\n\n\n\n
While the Gurugram-based company saw its revenue from operations rise 64 percent YoY to Rs 5,404 crore in Q3, up from Rs 3,288 crore a year ago. While it had reported a 64 percent YoY increase in revenue to Rs 5,404 crore in the previous quarter, Zomato had flagged concerns of a slowdown in the food delivery space.<\/p>\n\n\n\n
Bengaluru-based Swiggy saw its gross order value (GOV) grow 38 percent YoY to Rs 12,165 crore, while its consolidated adjusted EBITDA loss reduced around 2 percent YoY to Rs 490 crore. However on a sequential basis, EBITDA loss was up slightly to Rs 149 crore, filings showed.<\/p>\n\n\n\n
On February 5,\u00a0Swiggy’s shares\u00a0on BSE closed trading 3.6% lower at Rs 418.6 apiece.<\/p>\n\n\n\n
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