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Swiggy makes Bolt choice
Financial Express Hyderabad
|May 13, 2025
'FAST' FOOD GOALS
AS GROWTH IN the food delivery sector slows, Swiggy is placing a high-stakes bet on its 10-minute food delivery service, Bolt, in hopes of revitalising user engagement and addressing growing financial losses. In its January-March quarter earnings, the company posted a 45% year-on-year rise in revenue at ₹4,410 crore, but losses, too, rose sharply at ₹1,081 crore.
Swiggy's core food delivery business has shown signs of stagnation. Adjusted revenue grew just 0.3% sequentially to ₹1,867 crore, even as y-o-y growth stood at 19%. Swiggy CEO Sriharsha Majety acknowledged this maturing trend in his letter to shareholders. "Food delivery is a relatively mature category...sustained growth from hereon will be led by innovation towards bringing new consumers into the ecosystem and new meals into food delivery carts," he said.
This story is from the May 13, 2025 edition of Financial Express Hyderabad.
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