Swiggy Limited (BSE: 544285, NSE: SWIGGY), India's leading food delivery and quick commerce platform, has announced its unaudited financial results for the quarter and nine months ended December 31, 2024.
Key Financial Highlights (₹ Million)
Particulars
Q3 FY25 (Dec 31, 2024)
Q2 FY25 (Sep 30, 2024)
Q3 FY24 (Dec 31, 2023)
9M FY25
9M FY24
Revenue from Operations
39,930.69
36,014.50
30,486.92
108,167.36
82,018.42
Total Income
40,958.36
36,862.65
31,309.26
110,922.12
84,911.05
Total Expenses
48,982.76
43,095.45
37,001.77
131,157.79
102,793.73
Loss Before Tax
(7,990.80)
(6,255.30)
(5,743.80)
(20,356.17)
(17,954.72)
Net Loss
(7,990.80)
(6,255.30)
(5,743.80)
(20,356.17)
(17,954.72)
Revenue from operations grew 31% YoY to ₹39,930.69 million.
Total loss widened to ₹7,990.80 million, impacted by increased promotional spending and supply chain costs.
Food Delivery remains the largest contributor to revenue.
Quick Commerce (Instamart) saw triple-digit YoY growth, driven by expansion and demand for instant deliveries.
Platform Innovations revenue declined, indicating challenges in new service adoption.
Corporate Announcements
Successful IPO Completion: Swiggy raised ₹43,589.82 million through a fresh issue of shares during its recent IPO, with listings on both BSE and NSE.
Preference Shares Conversion: Several series of compulsorily convertible preference shares were converted into equity shares, increasing equity capital.
Exceptional Items Impact: The company reported ₹34.89 million in exceptional items, including IPO-related expenses and impairment costs.
Management Commentary
Sriharsha Majety, Managing Director & Group CEO, stated: "We are pleased with our continued revenue growth, particularly in quick commerce, which is reshaping consumer habits. Despite losses, we remain committed to driving efficiency, optimizing operations, and expanding our market share across verticals. The successful IPO is a testament to investor confidence in Swiggy’s long-term growth story."
Strategic Outlook
Quick commerce will remain a priority growth area with further expansion of Instamart’s dark stores and product offerings.
Operational efficiencies and cost optimization to improve margins.
Platform innovation strategies to enhance user engagement and diversify revenue streams.
Swiggy continues to focus on expansion, innovation, and profitability, leveraging IPO proceeds to strengthen its leadership position in India's food delivery and quick commerce space.
