Swiggy, the popular food tech and grocery delivery platform, reported a strong 30% growth in revenue for the July-September quarter (Q2FY25), reaching \u20b93,601.5 crore. This is up from \u20b92,763.3 crore recorded in the same period last year. The company also managed to narrow its losses to \u20b9626 crore, a 5% reduction compared to \u20b9657 crore in Q2FY24, according to regulatory filings.<\/p>\n\n\n\n
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).<\/p>\n\n\n\n
In comparison, Zomato posted \u20b94,799 crore in revenue and \u20b9272 crore in profit for the same quarter.<\/p>\n\n\n\n
Swiggy\u2019s new 10-minute food delivery service, Bolt, accounted for 5% of all food orders, showing the company\u2019s 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.<\/p>\n\n\n\n
Sriharsha Majety, MD and Group CEO of Swiggy said, \u201cOur quick-commerce efforts are to anticipate and respond to consumer needs so urban households have more convenience.\u201d<\/p>\n\n\n\n
This is the first time Swiggy has declared its financial results since its public listing last month.<\/p>\n\n\n\n
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":" Swiggy, the popular food tech and grocery delivery platform, reported a strong 30% growth in revenue for the July-September quarter (Q2FY25), reaching \u20b93,601.5 crore. This is up from \u20b92,763.3 crore recorded in the same period last year. The company also managed to narrow its losses to \u20b9626 crore, a 5% reduction compared to \u20b9657 crore […]<\/p>\n","protected":false},"author":1,"featured_media":5271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[760],"class_list":["post-5270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-swiggy-q2"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/5270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=5270"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/5270\/revisions"}],"predecessor-version":[{"id":5272,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/5270\/revisions\/5272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/5271"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=5270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=5270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=5270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Source: Moneycontrol<\/a><\/sub><\/sup><\/em><\/p>\n\n\n\n