Swiggy Q2 Results: Rev up 30% at Rs 3,601.5 crore, Losses Slows Down 5%

Food aggregator platform Swiggy reported a revenue of Rs 3,601.5 crore in the July-September quarter, up by 30% from Rs 2,763.3 crore in the corresponding period last year. Losses came down by 5% to Rs 626 crore from Rs 657 crore in the same period.

While monthly transacting users (MTU) increased by a million, the company has a user base of 17.1 million, up by 7% on quarter on quarter (QoQ) basis and over 19% year-on-year (YoY).

In Q1FY25, Swiggy reported a revenue of Rs 3,222.2 crore while the losses clocked to Rs 611 crore.

Notably, archrival Zomato posted a revenue of Rs 4,799 crore with a profit after tax (PAT) of Rs 272 crore in the September quarter.

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.”

Swiggy’s 10-minute delivery arm Bolt accounts for 5% of the total orders, the company said.

Majety added, “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 32,000 unique items, within an average delivery time of 13 minutes.”