<p>Bengaluru: Food delivery and quick commerce company Swiggy reported a narrower net loss of Rs 625.5 crore in the second quarter ended September (Q2FY25), its first quarterly earnings report since it got listed on bourses last month. </p><p>It had reported a net loss of Rs 657 crore in the corresponding quarter last year. However, the loss was higher sequentially as it had posted a net loss of Rs 611 crore in the first quarter of the current financial year (Q1FY25). </p><p>Its revenue from operations recorded a 30 per cent jump at Rs 3,601 crore as compared to Rs 2,763 in the second quarter of fiscal year 2024 (Q2FY25). </p><p>Earnings before interest and tax (EBIT) for its food business stood at a profitable Rs 122 crore compared to an EBIT loss of Rs 44 crore, on an annual basis. </p>.Swiggy expands 10-minute food delivery service to over 400 cities.<p>Swiggy’s overall gross order value (GOV) grew 30 per cent from last year to reach Rs 11,306 crore. Meanwhile, the GOV of its quick commerce arm Swiggy Instamart grew by 24% on a sequential basis. </p><p>“At the platform level, we’ve seen one of our best quarters so far with strong growth in GOV, while consistently reducing the losses,” managing director and group chief executive Sriharsha Majety said in a statement. </p><p>Swiggy Instamart also reported a rise in its annual revenue growth at Rs 4,900 crore as compared to Rs 3,878 crore in the same quarter last year. However, its EBIT continued its streak of loss at Rs 317 crore from a loss of Rs 320 crore last year. This loss stood at Rs 280 crore in the June quarter. </p><p>Instamart also added 12 cities and 52 stores during the quarter and improved its contribution margin by 124 basis points (bps) on a quarterly basis to -1.9 per cent. It plans to double its dark store count by March 25.</p>
<p>Bengaluru: Food delivery and quick commerce company Swiggy reported a narrower net loss of Rs 625.5 crore in the second quarter ended September (Q2FY25), its first quarterly earnings report since it got listed on bourses last month. </p><p>It had reported a net loss of Rs 657 crore in the corresponding quarter last year. However, the loss was higher sequentially as it had posted a net loss of Rs 611 crore in the first quarter of the current financial year (Q1FY25). </p><p>Its revenue from operations recorded a 30 per cent jump at Rs 3,601 crore as compared to Rs 2,763 in the second quarter of fiscal year 2024 (Q2FY25). </p><p>Earnings before interest and tax (EBIT) for its food business stood at a profitable Rs 122 crore compared to an EBIT loss of Rs 44 crore, on an annual basis. </p>.Swiggy expands 10-minute food delivery service to over 400 cities.<p>Swiggy’s overall gross order value (GOV) grew 30 per cent from last year to reach Rs 11,306 crore. Meanwhile, the GOV of its quick commerce arm Swiggy Instamart grew by 24% on a sequential basis. </p><p>“At the platform level, we’ve seen one of our best quarters so far with strong growth in GOV, while consistently reducing the losses,” managing director and group chief executive Sriharsha Majety said in a statement. </p><p>Swiggy Instamart also reported a rise in its annual revenue growth at Rs 4,900 crore as compared to Rs 3,878 crore in the same quarter last year. However, its EBIT continued its streak of loss at Rs 317 crore from a loss of Rs 320 crore last year. This loss stood at Rs 280 crore in the June quarter. </p><p>Instamart also added 12 cities and 52 stores during the quarter and improved its contribution margin by 124 basis points (bps) on a quarterly basis to -1.9 per cent. It plans to double its dark store count by March 25.</p>