Swiggy’s Q3FY25 net loss widens to Rs 799 cr amid rising capex, revenue up 31%
Bengaluru: Swiggy reported a wider consolidated net loss of Rs 799 crore for the third quarter of FY25 (Q3FY25), compared to Rs 574.4 crore in the same period last year, reported Business Standard.
The food and grocery delivery platform attributed the decline to increased capital expenditure on warehousing and dark store infrastructure.
This is Swiggy’s second quarterly results announcement since its stock market debut in November 2024.
The company’s consolidated revenue from operations grew 31% year-on-year (YoY) to Rs 3,993 crore, up from Rs 3,049 crore in Q3FY24, while total consolidated income rose 30.8% to Rs 4,095.8 crore from Rs 3,130.9 crore in the previous year’s quarter.
In a regulatory filing, Swiggy stated its expectation to achieve “positive adjusted EBITDA by the third quarter of FY26.”
Swiggy’s Chief Financial Officer (CFO), Rahul Bothra, attributed the increased net loss to adjusted EBITDA—a combination of food delivery operations and investments in quick commerce—as well as ESOP charges.
“Adjusted EBITDA increased by Rs 149 crore during the quarter. Additionally, depreciation has risen due to capital expenditure on warehousing and dark store infrastructure,” Bothra explained.
Addressing Swiggy’s roadmap to profitability, he reaffirmed the company’s earlier guidance of achieving adjusted EBITDA break-even at the corporate level by the October-December quarter of 2025.
He highlighted strong growth in food delivery EBITDA margins as a key driver of this target.
“With food delivery improving its cash flow profile and quick commerce expected to reach contribution break-even in the quarter we mentioned, we believe we can achieve adjusted profitability,” Bothra added.
Swiggy’s gross order value (GOV) grew 38% YoY to Rs 12,165 crore.
The company also noted that its consolidated adjusted EBITDA loss decreased by 2% YoY to Rs 490 crore but increased by Rs 149 crore quarter-on-quarter (QoQ).
The platform’s average monthly transacting users (MTUs) rose 25.3% YoY to 17.8 million, with nearly one-third of users engaging with multiple services on the platform.
“We delivered higher YoY growth across all three of our core businesses during Q3, accelerating B2C GOV growth to 38% YoY,” said Sriharsha Majety, MD and Group CEO of Swiggy.
“The expansion in food delivery margins and cash flow generation is balanced by growth investments in quick commerce, including dark store expansion and marketing, amid high competitive intensity in the near term. Instamart added 86 new stores in January 2025, bringing its MTUs to 9 million, up by 2 million,” he added.
During the festive quarter, Swiggy continued to develop segmented consumer offerings, aiming to unlock more consumption opportunities.
Regarding innovation and technology investments, Rohit Kapoor, CEO of Food Marketplace, noted that Swiggy recently introduced Bolt and Snacc (10-minute food delivery) and expanded its Quick-Commerce offerings into new categories.
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