Swiggy loss increases to Rs 799 crore in Q3FY2025

Swiggy reported a net loss of Rs 799 crore for the third quarter of financial year 2024-25 as against Rs 574 crore in the same period of the last fiscal.

Revenue from operations increased 31 percent to Rs 3,993 crore, according to filings with the stock exchanges.

"Swiggy’s gross order value (GOV) increased 38 percent YoY to Rs INR 12,165 crore. The platform’s average monthly transacting user (MTU) increased 25.3 percent YoY to reach 17.8 million, with nearly a third of all users utilising more than one service on the platform."

While food delivery GOV growth increased 19.2 percent YoY, Instamart GOV growth increased to 88.1 percent YoY. Instamart is now available in 84 Cities, and Swiggy is on track to achieve four million sq.ft active darkstore area by March 2025, the release added.

"We continued our focus on creating segmented offerings for the consumer during the festive quarter, which we believe will open up more consumption occasions," says Sriharsha Majety, MD & Group CEO, Swiggy. "In recent months, we've introduced Bolt and Snacc (10-minute food delivery), expanded into new categories within quick commerce, and plan to offer an even greater assortment. We've also launched Swiggy Scenes focused on restaurant event reservations, and introduced One BLCK, the premium tier of our Swiggy One subscription programme.

"We delivered higher YoY growth across all three of our primary businesses during Q3, which accelerated B2C GOV growth to 38 percent YoY. The secular expansion in food delivery margins and cashflow generation is balanced by growth investments being made in quick commerce including darkstores expansion and marketing, amidst high competitive intensity in the near term. With this thrust, Instamart added another 86 stores in January 2025, and has grown MTUs to nine million (+2 million)."