Swiggy, led by Sriharsha Majety, reported a 30% year-on-year increase in revenue from operations for the July-September quarter of FY25, reaching Rs 3,601.5 crore, compared to Rs 2,763.3 crore during the same period last year. This growth was driven by an increase in transacting users on the platform. The company’s losses also shrank by 5% to Rs 625.5 crore, from Rs 657 crore in Q2 FY24, although losses widened slightly from Q1 FY25, when Swiggy posted a loss of Rs 611 crore with a revenue of Rs 3,222.2 crore.
Sriharsha Majety, Managing Director and Group CEO, attributed the strong performance to innovation in food delivery services, citing the launch of “Bolt,” a 10-minute delivery service. Swiggy Instamart also played a significant role, with a 24% quarter-on-quarter growth in Gross Order Value (GOV), reaching Rs 3,382 crore. The overall GOV for the company grew 30% YoY, reaching Rs 11,306 crore. Additionally, the consolidated adjusted EBITDA loss decreased by 30% YoY, standing at Rs 341 crore.
Swiggy’s monthly transacting users (MTU) grew 19.2% YoY to 17.1 million, highlighting continued consumer engagement. Swiggy Instamart, available in 54 cities, now offers more than 32,000 items, with an average delivery time of 13 minutes. The company plans to expand its dark store network and increase store sizes by 30-35%, aiming to grow its active dark store area to 4 million square feet by March 2025.
Despite this growth, Swiggy lags behind Zomato, which posted Rs 4,799 crore in revenue and Rs 176 crore in profit. However, Majety expressed confidence in Swiggy’s broad business portfolio, stating that the company is poised to bring significant value to consumers, its ecosystem, and shareholders.
