Swiggy Ltd, online food and delivery platform, on Wednesday posted a wider consolidated net loss of Rs 799.08 during the December 2024 quarter (Q3 FY25) as against Rs 574.38 crore in the year-ago period. However, the company's revenue from operations rose 30.97 per cent to Rs 3,993.07 crore from Rs 3,048.69 crore in the corresponding period last year.
Swiggy said its gross order value (GOV) grew 38 per cent YoY (year-on-year) to Rs 12,165 crore, while the consolidated adjusted EBITDA loss reduced by around 2 per cent YoY to Rs 490 crore. The platform's average MTU increased 25.3 per cent YoY to reach 1.78 crore; with nearly a third of all users utilising more than one service.
Sriharsha Majety, MD & Group CEO at Swiggy, said, "In recent months, we've introduced Bolt and Snacc (10-minute food delivery), expanded into new categories within Quick-Commerce, and plan to offer an even greater assortment. We've also launched Swiggy Scenes focused on restaurant event reservations; and introduced One BLCK, the premium tier of our Swiggy One subscription program. We delivered higher YoY growth across all 3 of our primary businesses during Q3, which accelerated B2C GOV growth to 38 per cent YoY. The secular expansion in Food delivery margins and cashflow generation is balanced by growth investments being made in Quick-commerce including darkstores expansion and marketing, amidst high competitive intensity in the near term. With this thrust, Instamart added another 86 stores in January 2025."
The company's food delivery business GOV grew 19.2 per cent YoY to Rs 7,436 crore. "Adjusted EBITDA grew 63.7 per cent QoQ to Rs 184 crore, delivering a 2.5 per cent margin, up from 0.3 per cent a year ago. 'Bolt,' a 10-minute restaurant food delivery service launched in October 2024, already accounts for 9 per cent of overall food deliveries," it stated.
Swiggy Instamart reported an 88 per cent YoY rise in GOV to Rs 3,907 crore. Average order value increased by 14 per cent YoY to Rs 534 driven by greater selection and increased consumer salience. Instamart added 96 new active stores during the quarter.
The quarterly results were announced post market hours today. Earlier in the day, Swiggy shares fell 3.59 per cent to close at Rs 418.10.