Swiggy, the popular food tech and grocery delivery platform, reported a strong 30% growth in revenue for the July-September quarter (Q2FY25), reaching ₹3,601.5 crore. This is up from ₹2,763.3 crore recorded in the same period last year. The company also managed to narrow its losses to ₹626 crore, a 5% reduction compared to ₹657 crore in Q2FY24, according to regulatory filings.
The growth in revenue comes from a rising number of transacting users on the platform, with Swiggy’s monthly transacting users (MTU) increasing by one million during the quarter. Swiggy now boasts a user base of 17.1 million, marking a 7% quarter-on-quarter (QoQ) growth and a 19% increase year-on-year (YoY).
In comparison, Zomato posted ₹4,799 crore in revenue and ₹272 crore in profit for the same quarter.
Swiggy’s new 10-minute food delivery service, Bolt, accounted for 5% of all food orders, showing the company’s focus on innovation. Instamart, its quick-commerce grocery delivery arm, is live in 54 cities and has over 32,000 SKUs with an average delivery time of 13 minutes.
Sriharsha Majety, MD and Group CEO of Swiggy said, “Our quick-commerce efforts are to anticipate and respond to consumer needs so urban households have more convenience.”
This is the first time Swiggy has declared its financial results since its public listing last month.
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Source: Moneycontrol
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