Swiggy Q2FY25 consolidated loss narrows to Rs 626 cr
Mumbai: Indian food and grocery delivery platform Swiggy announced a reduced quarterly loss on Tuesday, driven by strong order growth in its food delivery and quick commerce segments, media reports said.
The company, which went public on November 13, posted a consolidated loss of Rs 626 crore ($74 million) for the second quarter ending September 30, an improvement from the Rs 657 crore loss recorded during the same period last year, Reuters reported.
Swiggy and its chief competitor, Zomato, have expanded beyond food delivery to invest in quick commerce, aiming to make this a significant growth driver.
The segment includes delivering items such as milk and electronics in under 15 minutes.
Swiggy’s Instamart faces competition from Zomato’s Blinkit, start-up Zepto, and Mukesh Ambani’s Reliance, a recent entrant in the space.
For the second quarter, Swiggy reported revenue of Rs 3,601 crore, marking a 30.3% year-on-year increase, while its expenses rose 23% as it pushed ahead with its quick commerce initiatives.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
