Swiggy delivers no surprise: Revenue rises, loss widens

NET LOSS WIDENS 74% TO 71,092 CR, REVENUE UP 54% TO %5,561 CR

- ANEES HUSSAIN

SWIGGY'S JULY-SEPTEMBER QUARTER numbers paint a familiar picture of high growth shadowed by widening losses.

The food and grocery delivery major reported a net loss of %1,092 crore during the period, 74.4% higher year-on-year from %626 crore, even as revenue surged 54% to $5,561 crore. It managed to narrow its loss sequentially by nearly 9% from the previous quarter’s 1,197 crore, but Instamart’s expansion weighed heavily on margins. The net loss was higher than Bloomberg consensus estimate of 917 crore.