Swiggy Q2 Results: Net Loss Stands At Rs 626 Crore
Revenue rose 12% to Rs 3,601 crore in the September quarter.
Swiggy's loss widened to Rs 626 crore in the second quarter of the current financial year versus a loss of Rs 611 crore in the last quarter.
Food delivery saw a growth of 4% quarter-on-quarter, while out-of-home consumption saw a growth of 28%. Quick commerce grew 31% and supply-chain and distribution grew 14%, according to an exchange filing on Tuesday.
Swiggy Q2 FY25 Highlights (Consolidated, QoQ)
Revenue up 12% to Rs 3,601 crore versus Rs 3,222 crore.
Ebitda loss at Rs 554 crore versus loss of Rs 544 crore.
Net loss at Rs 626 crore versus loss of Rs 611 crore.
Segmental Perfomance (Cons, QoQ)
Quick commerce revenue at Rs 490 crore versus Rs 374 crore.
Food delivery revenue at Rs 1,577 crore versus Rs 1,518 crore.
Supply chain and distribution revenue at Rs 1,452 crore versus Rs 1,190 crore.
The company will invest up to Rs 1,600 crore In Unit Scootsy via a rights issue. The board has approved the incorporation of the new unit for sports, amusement and recreation activities.
"We will need to be agile and responsive to the market movements and modulate our investments towards long-term health of the business for sustainable GOV (gross-order-value) growth," Chief Executive Officer Sriharsha Majety said. "Our investments (including marketing spends) will be aimed at driving user growth, frequency and wallet share with continuous hyper-local and geographical store expansion."
