Food delivery company Swiggy on Tuesday released its fiscal second quarter earnings report with a loss at Rs 625.53 crore, down from Rs 657.01 crore recorded during the same period of previous financial year. It posted revenue from operations at Rs 3601.45 crore, reporting a growth of 30.33 per cent as against Rs 2763.33 crore recorded during the second quarter of FY24. The company EBITDA loss stood at Rs 555 crore vs loss of Rs 624 crore YoY.
This is Swiggy’s first earnings announcement post the company got listed on the exchanges on November 13. The food delivery firm’s IPO was opened on November 06 and got subscribed 3.59 times while the retail section was booked 1.14 times. The issue was primarily driven by QIBs, subscribing to the issue 6.02 times. The IPO closed on November 08.
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Swiggy’s Q2 performance across segments
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Swiggy’s food delivery business reported a revenue of Rs 1577.47 crore during the second quarter of FY25 as against Rs 1289.91 crore recorded during the same period of previous financial year. The segment posted a revenue growth of 22.29 per cent on-year. The vertical reported a GOV growth of 5.6 per cent QoQ to Rs 7191 crore led by string MTU growth. The adjusted EBITDA increased 94.1 per cent sequentially to Rs 112 crore. Swiggy also launched ‘Bolt’ in this quarter which provides restaurant food delivery in 10 minutes, unlocking new consumption use cases. Bolt, which is now available in over 400 cities, has already grown to 5 per cent of our food delivery orders within 8 weeks of launch, the company said.
The company recorded a revenue of Rs 59.05 crore for its out of home consumption business. “The Out of Home Consumption business is witnessing secular growth and improving margins. Swiggy Dineout is one of the very selective and strategic acquisitions we have made in our history; and the integration of Dineout on our united app has demonstrated the power of our one-app play,” the company stated.
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