Food delivery platform Swiggy said on Wednesday that its consolidated net loss increased to ₹ 799 crore in the third quarter (Q3) of FY 2024-25 (FY25). Last year, the company had a loss of ₹ 574.4 crore in the same period. At the same time, Swiggy was also lodged by ₹ 574.4 crore in the July-September quarter.
However, despite the increase in losses, the consolidated revenue caused by the company’s operations increased by 31% year-on-year. It increased to ₹ 3,993 crore in Q3Fy25 as against ₹ 3,049 crore in Q3Fy24, which shows the strength in the company’s business.
The total consolidated income of SWIGGY also increased by 30.8% to ₹ 4,095.8 crore, which was ₹ 3,130.9 crore in Q3Fy24.
Swiggy performance on gov and ebitda
Swiggy’s gross order value (Gov)-That is, the value of the total order made on the platform-38% year-on-year to ₹ 12,165 crore.
The company also stated that consolidated adjustable Ebitda Los (earlier earnings before interest, tax, depreciation and earnings) declined by 2% year to ₹ 490 crore. However, on a quarter-by-rate (QOQ) basis, the deficit increased slightly to ₹ 149 crore, indicating a steady increase in operating costs.
Swiggy Managing Director and Group CEO, Sriharsha Majeti said, “Food delivery margin and cash flow generation are continuously improving. However, due to investment in the expansion of quick-commerce, the growth of dark stores and marketing expenses, there will be pressure of competition in the near future. ”
Swiggy vs zomato
Swiggy’s leading rival Zomato Ltd also recently released its Q3Fy25 results. ZOMATO’s net profit fell 57% to ₹ 59 crore from year to year. However, revenue growth from ZOMATO’s operations increased from 64% to ₹ 5,404 crore, which is much higher than the revenue growth rate of Swiggy. Zomato has already warned against a possible fall in food delivery demand.
SWIGGY shares closed at ₹ 418.10 today on BSE, which shows a decline of 3.59% before the release of Financial Results of Q3Fy25.