India's online delivery platform Swiggy posts wider quarterly loss on higher expenses
Its consolidated net loss widened to 11.97 billion rupees ($136.68 million) for the quarter ended June 30, from a loss of 6.11 billion rupees a year ago.
Swiggy is pouring money into expanding its quick-commerce arm, Instamart, with major investments going to set up stores, strengthening warehousing and logistics, and offering aggressive discounts to attract users.
The decade-old Swiggy, which enjoys a duopoly in the food delivery business with Eternal's Zomato, continues to spend on its core food delivery business through marketing, platform upgrades, and loyalty programs like Swiggy One, as it fights to maintain its edge in the competitive delivery market.
Instamart, which delivers everything from pulses to purses in minutes, is up against stiff competition from Eternal's Blinkit, Zepto [KIRK.NS], Tata-backed BigBasket, and Amazon, all racing to win the quick-commerce game by prioritizing rapid expansion over profits.
Swiggy's revenue surged 54 per cent to 49.61 billion rupees in the quarter ended June 30. Its consolidated expenses jumped about 60 per cent in the quarter to 62.44 billion rupees, owing to higher spends on advertising.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
3 hours ago
- CNA
More opt for mid- to long-term car leasing options, citing affordability and convenience
Some car rental firms are seeing more Singapore drivers opting for mid- to long-term leasing options over buying cars. They say their customers find these options more affordable and convenient as they don't need to be tied down by a 10-year Certificate of Entitlement, which can cost over S$100,000 upfront. Drivers also do not have to deal with the car's maintenance.
Independent Singapore
6 hours ago
- Independent Singapore
‘We left our high-paying jobs in Singapore for S$300/month pay in India' — Couple shares how choosing ‘freedom over hustle' grew their own successful business
SINGAPORE: They probably had it all—fat paycheques, shiny job titles, and the daily adrenaline rush of corporate life in Singapore. But three years ago, this foreign couple did what most people only dare to fantasise about during MRT rides or while doom-scrolling LinkedIn: They quit! 'We're still in transition,' the woman shared on Instagram, painting a picture that straddles the city and the countryside. 'Between the city and the farm. Between school runs, family time, and the life we're slowly designing on our own terms.' And they didn't just quit their jobs; they quit the entire hustle culture that came with living in one of the world's most fast-paced cities. From high-rise stress to hill-view bliss, this couple swapped S$ paycheques for peace of mind—and don't regret a thing. Now, they're raising their kid, sipping chai, and building an online business—all from a quaint hill-view farm in India. It wasn't a dramatic exit with fireworks and fanfare. Just a quiet, deeply self-reflective decision that involved trading in their high-paying Singapore gigs for a lifestyle where freedom—not fortune—was the main currency. See also PM Lee seeks to rally youth while continuing to open FT floodgates From $ to ₹ She decided to just earn ₹20,000 (around S$300) a month doing remote work as a Virtual Assistant three years ago when they left Singapore for India. 'That was the only goal,' she said. No big plans, no business degrees, no digital nomad starter kit. Just one modest goal and a whole lot of courage. But what started as a side hustle turned into something far more transformative—a thriving online business that's now the backbone of her family's financial independence. 'A business that brings financial stability and lets me work a few hours a day, from anywhere… even from our little hill-view farm,' she wrote. You don't need a fancy degree, 10-hour workdays Her message is simple: You don't need a fancy degree, 10-hour workdays, or a miracle to get started. You just need a plan. And maybe a push. She now teaches others how to do the same, particularly women who are tired of waiting for the stars (or their resumes) to align. To date, she's helped over 150 women launch their own Virtual Assistant (VA) businesses, proving that even everyday skills can be monetised in meaningful ways. 'If you've been dreaming of working online but feel stuck in ideas, doubts, or too many tabs open in your brain… here's the truth…,' she wrote. 'You don't need to wait forever to get your first client.' Her Instagram call-to-action is refreshingly direct: comment 'VA Bundle' and she'll DM you a free starter guide—the very same one that launched her post-Singapore chapter. What if the rat race isn't the only race? The couple's story is more than just a career shift. It's a quiet revolution against the myth that success must come with burnout. They left behind high salaries in Singapore (which can easily exceed S$100K annually for skilled professionals) for a flexible work-from-anywhere lifestyle that prioritises health, family, and peace. And they're not alone. With the rise of remote work and digital skills monetisation, more Singapore-based professionals are starting to wonder: What if the rat race isn't the only race? The farm isn't just a backdrop for their new life—it's a metaphor. For growth, for grounding, and for planting something sustainable in a world obsessed with speed. Build your work-from-anywhere life Her final message is a gentle nudge to those who feel stuck, tired, or overbooked by their own ambition: 'Let's build your work-from-anywhere life—one small step at a time.' For now, even when they're still in transition, if freedom were a location, it's safe to say—they've arrived. In other news, similar to this Indian couple, a Singaporean man, husband and father of three, also decided to leave Singapore after getting completely burnt out with SG, and now he hears KL instead of India calling out his name… You can read about his story over here: 'I'm done with S'pore! I wanna move to M'sia…' — S'porean man earning S$100K/year feels 'jaded with life in SG; KL feels sweet place to be'
Independent Singapore
6 hours ago
- Independent Singapore
'We admire Singapore deeply': Johor calls for end to rivalry, urges deeper regional partnership
SINGAPORE: Johor and Singapore must shift from a mindset of rivalry to one of partnership if they are to unlock the full potential of their shared geography and economic interdependence, said Johor Menteri Besar Datuk Onn Hafiz Ghazi. Speaking at the Lee Kuan Yew Exchange Fellowship dinner in Singapore, Onn Hafiz called for the two neighbours to embrace each other's strengths and pursue joint strategies for regional development. 'Let's stop thinking in terms of rivalry and focus on shared strategy. Together, we can build regional supply chains, renewable energy projects, data infrastructure and food security frameworks,' he said, as quoted by the New Straits Times. Complementary strengths offer regional potential Onn Hafiz highlighted how Singapore's capital and connectivity, combined with Johor's land and labour resources, form a naturally complementary partnership. Rather than compete, the two should collaborate to build a 'corridor of prosperity' stretching from Woodlands to Iskandar Puteri and beyond. 'If we plan wisely, we can create a corridor of prosperity,' he said, urging both sides to fully realise the potential of the Johor–Singapore Special Economic Zone (JS-SEZ), a key initiative currently under development. Praise for Singapore and call for mutual respect Onn Hafiz also paid tribute to Singapore's transformation and its founding leader, calling Mr Lee Kuan Yew 'a statesman whose vision uplifted not only Singapore, but leadership standards across the region.' His remarks underscored Johor's admiration for its neighbour, even amidst the frequent public comparisons between the two. 'It's not always easy being Singapore's neighbour when your people constantly compare roads, airports and customer service! But the truth is, we admire Singapore deeply,' he said, according to the New Straits Times . A relationship beyond GDP Framing the Johor–Singapore relationship as one of Southeast Asia's most important bilateral dynamics, Onn Hafiz emphasised that genuine cooperation rests on goodwill, not merely economic figures. 'It is goodwill, not just GDP, that sustains partnerships,' he said. His remarks come at a time when both sides are looking to deepen economic integration, particularly through cross-border infrastructure projects like the RTS Link and the JS-SEZ. See also SDP's finalised slate of candidates for GE2020 An open invitation to Singaporeans The Menteri Besar extended a warm invitation to Singaporeans, encouraging them to view Johor not just as a destination for food and shopping, but as a partner in progress. 'Our friends in Singapore are always welcome in Johor, not just for better food, but for real partnership and shared progress,' he said. The event, attended by Singapore Foreign Minister Dr Vivian Balakrishnan and other dignitaries, marked Onn Hafiz's participation as a Lee Kuan Yew Exchange Fellow — a programme that honours regional leaders who have made significant contributions to diplomacy and development. His comments signal a diplomatic shift toward closer ties and shared growth, a message both symbolic and strategic as Johor and Singapore navigate a new phase in regional cooperation. Read also: Tourism sector welcomes heritage-focused investment zones in Johor Bahru under 13MP
