Food delivery major Swiggy Ltd. posted a revenue of over Rs 11,000 crore, alongside a meaningful reduction in losses in fiscal 2024, as the company heads for an initial public offering.
The Bengaluru-based company saw its revenue from operations jump 36% to Rs 11,247 crore in financial year 2024. Swiggy's consumer-facing businesses—across food delivery, Instamart and dining—recorded a total gross order value of Rs 35,000 crore, bolstered by its 1.4 crore monthly transacting users.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Ahead of an IPO, the company also cut losses by 44% to Rs 2,350 crore during the fiscal, given better operating leverage and investments in new businesses are behind. Swiggy's expenses also remained under check, with an 8% rise to Rs 13,947 crore.
The Arc reported the development first.
In comparison, Zomato Ltd.'s fiscal 2024 revenue came in at Rs 12,961 crore, with a profit after tax of Rs 351 crore.
The Sriharsha Majety-led company has also filed for a confidential initial public offering.
In April, Swiggy's shareholders passed a resolution internally for an initial public offering, making known a broad structure for what can be an issue of up to Rs 10,000 crore in a fresh issue of shares and an offer for sale. The company is seeking nearly $12-15 billion in valuation as part of the IPO, according to people aware of the development. Its competitor, Zomato, which is listed on the stock exchanges, is currently valued at $27 billion.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.