Food delivery company Swiggy on Wednesday released its fiscal third quarter earnings report wherein it recorded a widened loss of Rs 799.08 crore in comparison to a loss of Rs 574.38 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 3993.07 crore, up 30.98 per cent as against Rs 3048.69 crore reported during the third quarter of previous financial year. The company recorded EBITDA loss of Rs 725 crore vs loss of Rs 525 crore YoY.
This is the second earnings report by the food delivery major, after the company got listed on the exchanges on November 13. During the last quarter, which was its first ever earnings release of NSE and BSE, Swiggy had posted a loss of Rs 625.53 crore and the revenue for the quarter in review was at Rs 3601.45 crore.
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Swiggy’s Gross Order Value (GOV) went up by 38 per cent YoY to Rs 12,165 crore, while the consolidated adjusted EBITDA loss reduced by approximately 2 per cent YoY to Rs 490 crore but rose Rs 149 crore QoQ. The platform’s Average MTU increased 25.3 per cent YoY to reach 17.8 million; with nearly a third of all users utilizing more than one service on the platform.
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Shares of Swiggy were down by 3.59 per cent at 4:40 pm to a trading price of Rs 418.10.
Swiggy’s Q3 performance across business verticals
Swiggy’s food delivery business GOV went up by 19.2 per cent YoY to Rs 7,436 crore led by innovations like Bolt and improved execution driving user-additions. Adjusted EBITDA grew 63.7 per cent QoQ to Rs 184 crore, delivering a 2.5 per cent margin, up from 0.3 per cent a year ago. The segment also added 2.4 million MTUs over the past year,
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