New Delhi, Feb 5 (IANS) Zomato’s rival Swiggy on Wednesday reported a Rs 799.08 crore net loss in the October-December period (Q3 FY25), as compared to a loss of Rs 625.53 crore in the previous quarter.
On an annual basis, Swiggy’s net loss widened 39 per cent, from a net loss of Rs 574 crore in the year-ago period.
The operating loss, or the losses before interest tax depreciation and amortisation, stood at Rs 725.66 crore, which increased from Rs 554.17 crore clocked in the September quarter (Q2).
However, the online food delivery company’s revenue went up 10.9 per cent from the preceding quarter to Rs 3,993.07 crore, according to its stock exchange filing.
The top line was primarily aided by Rs 1,636.88-crore revenue clocked in the food delivery segment.
Swiggy Instamart, which is the company’s quick commerce arm, clocked a 17.7 per cent sequential rise in revenue to Rs 576.5 crore.
“The secular expansion in food delivery margins and cash flow generation is balanced by growth investments being made in Quick-commerce including dark stores expansion and marketing, amidst high competitive intensity in the near-term,” said Sriharsha Majety, MD and Group CEO, Swiggy.
Ahead of the Q3 results announcement, shares of Swiggy closed 3.69 per cent lower at Rs 418.05 apiece on the NSE. Since its listing in November, the stock has fallen by 8.32 per cent.
Swiggy saw its gross order value (GOV) grow 38 per cent to Rs 12,165 crore, while its consolidated adjusted EBITDA loss reduced by around 2 per cent YoY to Rs 490 crore.
However, on a sequential basis, EBITDA loss was up slightly to Rs 149 crore, according to its filings.
Zomato also saw its profits decline 57 per cent on a year-on-year (YoY) basis to Rs 59 crore in Q3.
–IANS
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