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Swiggy reported a 30% year-on-year increase in revenue to Rs 3,601.5 crore for the July-September quarter; Key points for investors
Swiggy Share Price
Swiggy’s share price surged by over 6% on Wednesday following the release of its financial results for the second quarter of the current fiscal. The online food and grocery delivery platform reported strong revenue growth and a reduction in losses.
In early trading, Swiggy stock jumped 6.56% to Rs 534.8 per share on the NSE. By 9:30 a.m., it was trading 2.87% higher at Rs 516.25.
Swiggy reported a 30% year-on-year rise in revenue to Rs 3,601.5 crore for the July-September quarter, compared to Rs 2,763.3 crore in the same period last year. Sequentially, revenue grew from Rs 3,222.2 crore in Q1 FY25.
The company’s net loss narrowed by 5% to Rs 625.5 crore in Q2, down from ₹657 crore a year ago, though slightly higher than the Rs 611 crore loss reported in the previous quarter.
This is Swiggy’s first earnings report since its public listing last month. The company also saw a notable increase in its monthly transacting users (MTU), which grew by one million during the quarter, reaching 17.1 million. This marked a 7% quarter-on-quarter and 19% year-on-year growth.
Brokerage firm CLSA noted that Swiggy’s gap with larger competitor Zomato has stopped widening, suggesting a more competitive position in the food delivery market. In the quick commerce space, Swiggy’s Instamart competes with Zomato’s Blinkit and other players like Zepto, focusing on rapid delivery services. Swiggy has been expanding its dark store network to strengthen its quick commerce offerings.
Since its IPO, Swiggy’s stock has gained around 33% from its listing price of Rs 390, with the company’s market capitalization exceeding Rs 1.16 lakh crore.
In November, Swiggy raised over Rs 11,300 crore through its initial public offering (IPO), which included a fresh issue of Rs 4,499 crore and an offer for sale of Rs 6,828 crore.
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