Swiggy Q3 results: Net loss widens to Rs 799 crore, revenue rises 31%

Swiggy Q3FY25 results: During the same period last year, the food delivery platform had reported a loss of Rs 574.4 crore

Food delivery platform Swiggy on Wednesday reported that its consolidated net loss had widened to Rs 799 crore for the third quarter (Q3) of the financial year 2024-25 (FY25) from Rs 574.4 crore loss reported during the same period last year. In the last quarter, July-September, the company had reported a net loss of Rs 574.4 crore.

 

Despite the widening losses, the company's consolidated revenue from operations grew 31 per cent year-on-year (Y-o-Y) to Rs 3,993 crore, up from Rs 3,049 crore in Q3FY24, indicating strong demand in its core business.

 

Swiggy's consolidated total income also went up 30.8 per cent to Rs 4,095.8 crore in Q3FY25, compared to Rs 3,130.9 crore reported in Q3FY24.

 

Swiggy’s gross order value (GOV) - the total worth of all orders placed on its platform - rose 38 per cent Y-o-Y to Rs 12,165 crore. The company also reported a 2 per cent Y-o-Y reduction in consolidated adjusted Earnings before interest, taxes, depreciation, and amortisation (Ebitda) loss, which stood at Rs 490 crore. However, on a quarter-on-quarter basis, Ebitda loss increased slightly to Rs 149 crore, reflecting persistent operational costs.

 

Commenting on the financial performance, Swiggy’s Managing Director and Group CEO, Sriharsha Majety said, “We continued our focus on creating segmented offerings for the consumer during the festive quarter, which we believe will open up more consumption occasions. 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." 

 

Majety also spoke about the launch of Swiggy Scenes, which focuses on restaurant event reservations, much like Zomato's dine-out app District. Swiggy also introduced its premium subscription One BLCK this year.

 

"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, and has grown MTUs to 9 million (+2 million),” Majety  said.

Swiggy vs Zomato

Food delivery competitor Zomato Ltd earlier also reported a 57 per cent Y-o-Y decline in net profit, which dropped to Rs 59 crore in Q3FY25. However, Zomato’s revenue from operations grew by 64 per cent Y-o-Y to Rs 5,404 crore, significantly outpacing Swiggy’s revenue growth.

 

Zomato had also  previously warned of a potential slowdown in food delivery demand. 

 

Shares of Swiggy closed at Rs 418.10 on the BSE, down 3.59 per cent per cent before the Q3FY25 financial results were released.