Swiggy, the food delivery giant that has surged 27% above its IPO issue price of ₹390, announced its financial results for the first time since listing, covering the second quarter ended September.
Swiggy Q2 FY25 Results: Revenue and Net Loss Analysis
- Revenue from Operations:
- Q2 FY25: ₹3,601.45 crore
- Q1 FY25 (QoQ): ₹3,222.22 crore (increase of 11.76%)
- Q2 FY24 (YoY): ₹2,763.33 crore (increase of 30.33%)
- Net Loss:
- Q2 FY25: ₹625.53 crore
- Q1 FY25 (QoQ): ₹611.01 crore (increase of 2.38%)
- Q2 FY24 (YoY): ₹657.01 crore (decrease of 4.79%)
Swiggy has also announced the approval for the incorporation of a wholly owned subsidiary. The newly formed entity will focus on sports, amusement, and recreational activities. Its primary objectives include sports team ownership, talent development, event management, broadcasting rights acquisition, and promoting sports events through various business models.
Sriharsha Majety, MD & Group CEO, Swiggy, said “The remarkable performance of our food business operations comes on the back of strong innovation and execution. We are constantly trying to anticipate and improve the consumer’s experience. The recent launch of Bolt- our 10-minute delivery service is an example of that. Similarly in quick commerce, we are anticipating and responding to consumer behaviour to bring more and more convenience to urban households. Instamart today is present in 54 cities and delivers more than 32000 unique items, within an average delivery time of 13 minutes.”
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