Feb 05, 2025 05:15 PM IST
The company reported a consolidated loss of 7.99 billion rupees ($91.40 million) for the third quarter ended Dec. 31,
India’s Swiggy reported a wider quarterly loss on Wednesday, as the online platform poured money into its grocery delivery business to compete with rivals Zomato and Zepto.
The company reported a consolidated loss of 7.99 billion rupees ($91.40 million) for the third quarter ended Dec. 31, compared to a loss of 5.74 billion rupees a year earlier.
Companies like Swiggy and Zomato are doubling down on their quick commerce push, which aim to deliver a wide variety of goods in 10 minutes or less, by opening more warehouses from which to fulfil such orders.
Zomato, which owns quick commerce platform Blinkit, plans to double its warehouse count to 2,000 by the end of 2025, while Swiggy has previously said it plans to close the financial year with twice as many fulfilment centers as a year ago.
Swiggy’s quarterly expenses jumped about 32% to 48.98 billion rupees.
The rapid expansion in quick commerce and steady food delivery demand led to its revenue from operations climbing about 31% to 39.93 billion rupees.
($1 = 87.4170 Indian rupees)
See Less
