Swiggy Q2 Results: Revenue Jumps 39% To Rs 2,146 Crore; Instamart Revenue Doubles
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Swiggy, the food tech and grocery delivery giant, reported a revenue of Rs 2,146.1 crore for the July-September period
Swiggy Share Price
Swiggy Q2 Results: Swiggy, the food tech and grocery delivery giant, reported a revenue of Rs 2,146.1 crore for the July-September period, reflecting a 39% growth from Rs 1,547.7 crore in the same quarter last year. The surge in revenue was driven by a rise in the number of transacting users on its platform. Additionally, the company reduced its losses by 17%, narrowing them from Rs 590.8 crore to Rs 490.9 crore during the period.
In comparison, Swiggy had posted a revenue of Rs 1,952.9 crore and losses of Rs 497.5 crore in Q1FY25.
Swiggy’s competitor, Zomato, reported a revenue of Rs 4,799 crore and a profit after tax of Rs 272 crore for the same period.
This marks Swiggy’s first earnings report since its public listing last month.
For Q2FY25, Swiggy saw a notable increase in its monthly transacting users (MTU), adding a million to reach a total of 17.1 million. This represents a 7% quarter-on-quarter (QoQ) growth and a 19% year-on-year (YoY) increase.
Swiggy’s Instamart, or the Quick-Commerce business, reported a revenue growth of 136% from last year to Rs 490 crore, while its EBIT remained at a loss of Rs 317 crore from a loss of Rs 320 crore last year and Rs 280 crore during the June quarter.
Shares of Swiggy, which had gained as much as 9% in early trade on Tuesday, have pared their gains and are now at the flatline at Rs 495.
