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Swiggy Q3 Results Review — Quick Commerce Burn Deepens; HDFC Securities Maintains 'Reduce' On The Stock
Despite stable gross order value density QoQ, Instamart’s incremental quick commerce burn was higher than that of Blinkit’s, says HDFC Securities.
06 Feb 2025, 09:25 AM IST 
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Swiggy’s food delivery gross order value grew 3.4% QoQ (19.2% YoY) to Rs 74.4 billion, led by innovations like Bolt and improved execution driving user additions.
(Photographer: Vivek Amare/NDTV Profit)
Swiggy's quick commerce gross order value and monthly transacting user grew 15.5/13.4% QoQ to Rs 39 billion/7 million respectively (versus Blinkit’s 27/19% QoQ) as rising competition kept customer incentives, acquisition costs and dark store network investments elevated.
