Food delivery platform Swiggy Ltd. disclosed a net loss of ₹625.5 crore for the September quarter in its first earnings report since going public last month.
Key highlights:
- Net Loss: Narrowed from ₹657 crore in the same quarter last year but slightly higher than the ₹611 crore loss in the June quarter.
- Revenue Growth: Increased to ₹3,601 crore, up from ₹2,763 crore last year and ₹3,222 crore in the June quarter.
- EBITDA Loss: ₹555 crore, nearly unchanged from ₹544 crore in the June quarter and lower than the ₹624 crore loss a year ago.
- Food Delivery Business: Revenue grew 22% year-on-year and 4% sequentially, reaching ₹1,577 crore.
Swiggy’s performance shows steady revenue growth, though profitability remains a challenge.
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