In the third quarter of the fiscal year 2024-25, Swiggy, a leading food and grocery delivery platform in India, reported a consolidated net loss of ₹799 crore, up from ₹574 crore in the same period the previous year.

Despite the widening losses, Swiggy’s revenue from operations saw a significant increase, rising 31% year-over-year to ₹3,993 crore, compared to ₹3,049 crore in Q3 FY24.

A notable factor contributing to the increased losses is the substantial rise in advertising and sales promotion expenses, which surged by 65% to ₹751 crore in December 2024, up from ₹454 crore in the same period the previous year.

Swiggy’s total expenses for the quarter escalated to ₹4,898 crore, a 32% increase from ₹3,700 crore in the corresponding quarter of the previous fiscal year.

The company’s gross order value (GOV), representing the total value of all orders placed on its platform, grew by 38% year-over-year to ₹12,165 crore. The food delivery segment’s GOV increased by 19.2% to ₹7,436 crore, while the quick commerce segment, including Instamart, saw its revenue more than double, with a 114% year-over-year growth.

Swiggy’s Managing Director and Group CEO, Sriharsha Majety, commented on the performance, stating, “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.”

The company remains committed to investing in its quick commerce and supply chain businesses, viewing them as key growth drivers despite the current financial challenges.

Key Highlights:

• Swiggy’s Q3 FY25 net loss widened to ₹799 crore from ₹574 crore in the same period last year.
• Revenue from operations increased by 31% year-over-year to ₹3,993 crore.
• Advertising and sales promotion expenses rose by 65% to ₹751 crore.
• Gross order value grew by 38% to ₹12,165 crore, with significant contributions from both food delivery and quick commerce segments.