Swiggy slashes annual losses by 30%; delivers GOV growth of 40% in Q1

FOOD and grocery delivery platform Swiggy narrowed its adjusted EBITDA losses by 30% to $182 million in calendar year 2024 from $261 million in the previous year, according to Dutch tech investor Prosus.

- UMA KANNAN @ Bengaluru

In its financial update, Prosus mentioned that Swiggy in Q1 25, delivered GOV (gross order value) growth of 40% y-o-y and quick commerce GOV growth of 101% y-o-y with 316 new dark stores added in the first quarter of this year.

Prosus' Indian portfolio companies Swiggy and PayU India's IRR (internal rate of return) stood at 23% and 13% in FY25. Meesho's IRR stood at 20%.