Swiggy, a leading food tech and grocery delivery platform, posted a revenue of Rs 3,601.5 crore for the July-September period of FY25, marking a significant 30% year-on-year (YoY) growth from Rs 2,763.3 crore in the same quarter of the previous year. This increase is attributed to a rise in the number of transacting users on the platform, as reflected in the company's regulatory filings.
Swiggy's losses also showed a slight improvement, narrowing by 5% from Rs 657 crore to Rs 625.5 crore during the period. Despite the reduction in losses, the company continues to invest heavily in its growth and expansion initiatives.
Monthly Active Users on the Rise
The platform witnessed a notable increase in its Monthly Transacting Users (MTU), which grew by 1 million to reach 17.1 million in Q2 FY25. This marks a 7% increase on a quarter-on-quarter (QoQ) basis and a 19% rise compared to the same period last year. This growth indicates a strong customer base and highlights the increasing popularity of Swiggy's services.
In comparison, Swiggy's rival, Zomato, posted a revenue of Rs 4,799 crore for the same period and reported a profit after tax (PAT) of Rs 272 crore. This comes at a time when Swiggy is declaring its results for the first time since it went public last month.
Expansion of Business
Swiggy continues to innovate and expand its service offerings. Sriharsha Majety, MD & Group CEO, commented on the company’s performance, attributing the success to continuous innovation and consumer experience enhancements. A key example of this innovation is Bolt, Swiggy’s 10-minute food delivery service, which now accounts for 5% of all food orders.
In addition, Swiggy's quick-commerce service, Instamart, is now operational in 54 cities and delivers over 32,000 unique items with an average delivery time of just 13 minutes.
Stock Performance
Swiggy's stock closed at Rs 501.30 per share on the Bombay Stock Exchange (BSE) on December 3, reflecting investor confidence in the company's growth trajectory.
Swiggy's robust performance in Q2 FY25 highlights its successful expansion into quick-commerce and food delivery, with significant user growth and innovation driving the company’s revenue. Despite ongoing losses, Swiggy's strategies seem to be working, positioning the company for future success in a competitive market.
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With inputs from agencies
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