Swiggy's net loss widens 39% to Rs 799 cr in Q3
text_fields
New Delhi: Swiggy, a major player in the Indian online food delivery sector, reported a widening net loss of Rs 799.08 crore for the October-December period (Q3 FY25), up 39% from a loss of Rs 574 crore during the same period last year. The loss also increased compared to the previous quarter, where it stood at Rs 625.53 crore.
The operating loss, which represents losses before interest, tax, depreciation, and amortization (EBITDA), surged to Rs 725.66 crore from Rs 554.17 crore in Q2 FY25.
Despite the loss, Swiggy’s revenue for Q3 grew by 10.9% to Rs 3,993.07 crore, driven primarily by its food delivery segment, which contributed Rs 1,636.88 crore in revenue. Additionally, the company’s quick commerce arm, Swiggy Instamart, posted a 17.7% increase in revenue, amounting to Rs 576.5 crore.
Sriharsha Majety, MD and Group CEO of Swiggy, acknowledged that while the company was experiencing a rise in food delivery margins and cash flow generation, these were being balanced by investments in quick-commerce, particularly in dark store expansion and marketing, amid intense competition.
Ahead of the Q3 announcement, Swiggy’s shares closed 3.69% lower at Rs 418.05 on the NSE, marking an 8.32% drop since its listing in November.
The company’s gross order value (GOV) grew 38% to Rs 12,165 crore, while its consolidated adjusted EBITDA loss declined by 2% YoY to Rs 490 crore. However, sequentially, the EBITDA loss increased slightly to Rs 149 crore.
In comparison, Zomato, Swiggy’s rival, also reported a 57% YoY decline in profits, amounting to Rs 59 crore for Q3.
With IANS inputs