New Delhi, May 9 Online food delivery platform Swiggy further slipped into deep losses at Rs 1,081 crore in the fourth quarter of last financial year (FY25), a whopping 95 per cent increase from Rs 554 crore net loss in the same quarter in FY24, its financials showed on Friday.
On an annual basis, Swiggy's losses widened by 35 per cent in FY25 -- from Rs 2,350 crore in FY24 to Rs 3,116 crore in FY25, according to the company's regulatory filing with the stock exchanges.
Consolidated adjusted EBITDA loss increased to Rs 732 crore (on-year) due to significant growth investments in Quick commerce, said the company.
Revenue was up at Rs 5,609 crore in the March quarter, from Rs 3,668 crore in Q4 of FY24.
“FY25 was a year of many firsts for Swiggy. We launched multiple new apps, across Instamart, Snacc and recently, Pyng; all of which are aimed at opening up new user-segments and markets. Our food delivery engine delivered best-ever results across innovation and execution, driving category-leading growth and rising profitability in lockstep,” said Sriharsha Majety, MD and Group CEO, Swiggy.
“Our out-of-home consumption business turned profitable in Q4, within just two years of its integration. Overall, we remain focused on growth, on the back of delivering unparalleled convenience to consumers,” Majety added.
Swiggy’s food delivery business Gross Order Value (GOV) continues to grow in line with guidance at a healthy 17.6 per cent to Rs 7,347 crore (on-year).
Swiggy Instamart accelerated its GOV growth to 101 per cent, clocking Rs 4,670 crore in Q4. Average order value increased by 13.3 per cent to Rs 527.
Instamart added 316 new darkstores, its highest-ever during a quarter, driving up active darkstore area to 4 million square feet, in line with guidance.
Swiggy said its average monthly transacting user (MTU) increased 35 per cent YoY to reach 19.8 million, with 35 per cent of all users utilizing more than one service on the platform.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor