<p>New Delhi: Food delivery and quick commerce platform Swiggy on Friday reported widening of consolidated net loss during the March quarter to Rs 1,081.18 crore, due to significant investments in quick commerce.</p>.<p>The company had reported a net loss of Rs 554.77 crore on a consolidated basis in the year-ago period.</p>.<p>Swiggy's revenue from operations rose to Rs 4,410 crore during the January-March period, as against Rs 3,045.5 crore a year earlier, a regulatory filing showed.</p>.<p>However, its total expenses shot up to Rs 5,609.6 crore during the quarter under review, as against Rs 3,668 crore in the corresponding period of the previous year.</p>.Trump says 80% tariff on Chinese goods 'seems right'.<p>In a statement, Swiggy said the gross order value (GOV) of its food delivery business continues to grow in line with guidance at a healthy 17.6 per cent year-on-year, to Rs 7,347 crore.</p>.<p>Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 15.4 per cent quarter-on-quarter and over five times year-on-year to Rs 212 crore, and strong efficiency and execution drove a margin expansion to 2.9 per cent of GOV, up from 0.5 per cent a year ago.</p>.<p>Swiggy Instamart average order value increased 13.3 per cent to Rs 527 during the quarter. Instamart added 316 new dark stores -- an increase of 45 per cent sequentially -- its highest-ever during a quarter.</p>.<p>Investments into customer acquisition amidst high competitive intensity saw monthly transacting users (MTUs) surge 40 per cent quarter-on-quarter to 9.8 million, the company said.</p>.<p>Swiggy MD & Group CEO Sriharsha Majety said, "Quick-commerce is in a phase of rapid expansion and heightened competitive intensity, for which we have ramped up investments aimed at market expansion (Megapods), reach (1,000+ stores across 124 cities) and differentiation (Maxxsaver). Our Out of Home Consumption business turned profitable in Q4, within just 2 years of its integration. Overall, we remain focused on growth, on the back of delivering unparalleled convenience to consumers." </p>
<p>New Delhi: Food delivery and quick commerce platform Swiggy on Friday reported widening of consolidated net loss during the March quarter to Rs 1,081.18 crore, due to significant investments in quick commerce.</p>.<p>The company had reported a net loss of Rs 554.77 crore on a consolidated basis in the year-ago period.</p>.<p>Swiggy's revenue from operations rose to Rs 4,410 crore during the January-March period, as against Rs 3,045.5 crore a year earlier, a regulatory filing showed.</p>.<p>However, its total expenses shot up to Rs 5,609.6 crore during the quarter under review, as against Rs 3,668 crore in the corresponding period of the previous year.</p>.Trump says 80% tariff on Chinese goods 'seems right'.<p>In a statement, Swiggy said the gross order value (GOV) of its food delivery business continues to grow in line with guidance at a healthy 17.6 per cent year-on-year, to Rs 7,347 crore.</p>.<p>Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 15.4 per cent quarter-on-quarter and over five times year-on-year to Rs 212 crore, and strong efficiency and execution drove a margin expansion to 2.9 per cent of GOV, up from 0.5 per cent a year ago.</p>.<p>Swiggy Instamart average order value increased 13.3 per cent to Rs 527 during the quarter. Instamart added 316 new dark stores -- an increase of 45 per cent sequentially -- its highest-ever during a quarter.</p>.<p>Investments into customer acquisition amidst high competitive intensity saw monthly transacting users (MTUs) surge 40 per cent quarter-on-quarter to 9.8 million, the company said.</p>.<p>Swiggy MD & Group CEO Sriharsha Majety said, "Quick-commerce is in a phase of rapid expansion and heightened competitive intensity, for which we have ramped up investments aimed at market expansion (Megapods), reach (1,000+ stores across 124 cities) and differentiation (Maxxsaver). Our Out of Home Consumption business turned profitable in Q4, within just 2 years of its integration. Overall, we remain focused on growth, on the back of delivering unparalleled convenience to consumers." </p>