Swiggy Q3 Results: Net loss widens to ₹799 crore, revenue rises by 31%

Swiggy on Wednesday reported a net loss of ₹799 crore for the December quarter of the current fiscal (Q3 FY25), up from ₹574 crore posted in the year-ago quarter.

The company's revenue from operations stood at ₹3,993 crore for the reporting quarter, up 31% year-on-year (YoY) as compared to ₹3,049 posted in Q3 FY24.

Swiggy shares ended 3.56% down at ₹418.60 on the NSE on Wednesday, February 5. The company declared its Q3 FY25 earnings post-market hours.

On a sequential basis, the company's revenue from operations increased by 18.1% from ₹3,01.45 crore reported in Q2 FY25. Its net loss widened on a quarter-on-quarter (QoQ) basis as well when compared to ₹625.5 crore posted in the July-September quarter.

EBITDA loss for the reporting quarter was at ₹725.66 crore, up from ₹554.17 crore in Q2 FY25.

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“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. We've also launched Swiggy Scenes focused on restaurant event reservations; and introduced One BLCK, the premium tier of our Swiggy One subscription program," Swiggy's MD and CEO Sriharsha Majety said.

He added, "We delivered higher YoY growth across all 3 of our primary businesses during Q3, which accelerated B2C GOV growth to 38% YoY. The secular expansion in Food delivery margins and cashflow generation is balanced by growth investments being made in Quick-commerce including dark stores expansion and marketing, amidst high competitive intensity in the near term. With this thrust, Instamart added another 86 stores in January 2025, and has grown Monthly Transacting Users (MTUs) to 9 million (+2 million)."

Major highlights

• Swiggy Instamart: Revenue of the quick commerce segment increased by 17.7% QoQ to ₹576.50 crore as against ₹490 crore in the previous quarter.
• Food delivery business: Revenue grew by 3.8% QoQ to ₹1,636.8 crore as compared to ₹1,577.47 crore in Q2 FY25.

Swiggy Q3: Other key details

• Swiggy platform's Gross Order Value (B2C GOV) increased by nearly 38% YoY to ₹12,165 crore.

• Its food delivery GOV grew by 19.2% YoY to ₹7,436 crore on the back of innovations like Bolt, the company said in a filing. The segment also added 2.4 million MTUs over the past year (2024).

• Swiggy Instamart GOV grew by 88.1% YoY to ₹3,907 crore. The quick commerce segment added 96 new active dark stores during the reporting quarter, up 16% QoQ.