मैगज़्टर गोल्ड के साथ असीमित हो जाओ
10,000 से अधिक पत्रिकाओं, समाचार पत्रों और प्रीमियम कहानियों तक असीमित पहुंच प्राप्त करें सिर्फ
कोशिश गोल्ड - मुक्त
Swiggy's net losses double in fourth qtr
Mint Bangalore
|May 10, 2025
CEO Majety expects Instamart to reduce its losses going forward
Food delivery major Swiggy said on Friday its quick commerce business Instamart is expected to reduce its losses going forward after the company's consolidated fourth quarter net losses nearly doubled to ₹1,081.1 crore. Meanwhile, fourth quarter revenues increased to ₹4,530.7 crore from ₹3,143.2 crore the year-ago period.
"We believe that Instamart reached the peak of adjusted EBITDA (earnings before interest, tax, depreciation and amortization) losses in late-Q4 and from here on, we expect to progressively unwind losses, the pace of which will be determined by our expansion of AOV and take-rates, and the nature and quantum of competitive intensity," Swiggy's co-founder and group chief executive officer (CEO) Sriharsha Majety said in the shareholder letter. AOV refers to average order value.
यह कहानी Mint Bangalore के May 10, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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