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Time of India
10-05-2025
- Business
- Time of India
Swiggy Q4: losses nearly double to Rs 1,081 crore despite 45% revenue growth
Live Events Food and grocery delivery platform Swiggy saw its net loss almost double to Rs 1,081 crore during the January-March quarter, as it aggressively expanded its quick commerce network in the period, adding nearly four dark stores per in quick commerce also pushed the company's consolidated operating revenue, which rose 45% year-on-year (YoY) to Rs 4,410 and group CEO Sriharsha Majety pointed out that investments made by Swiggy in the 10-minute grocery delivery business Instamart peaked during the fourth quarter of fiscal 2025, and he expects losses in the segment to begin unwinding.'We believe that Instamart reached the peak of adjusted Ebitda losses in late Q4; and from hereon, we expect to progressively unwind losses, the pace of which will be determined by our expansion of AOV (average order value) and take-rates, and the nature and quantum of competitive intensity,' Majety said. Take rate is the ratio of gross sales to is in sharp contrast to the statement made by Swiggy's biggest rival, Zomato parent Eternal , which said on May 1 that it will aggressively pursue market share gains for its quick commerce business Blinkit even at the cost of short-term Swiggy has revised its guidance for Instamart's contribution breakeven. Initially, it had targeted the October-December 2025 quarter, but this has now been adjusted to a range – from the third quarter of fiscal 2026 to the first quarter of fiscal the company's corporate-level adjusted Ebitda breakeven guidance has also been changed by the same measure. In an interaction with ET , Swiggy's chief financial officer Rahul Bothra, said that, having achieved its target of over 1,000 dark stores, future store openings will no longer be driven by expansion targets but by the growth observed in zones where new stores are needed.'Hereon, we believe that store additions will be a derivative of growth…store expansion itself needn't follow a certain network expansion guidance. This doesn't mean that we will aim to grow slower…we have made a choice of network where we have these megapods, which are two-and-a-half times larger than dark stores and these can do 5,000-6,000 orders per day compared to 2,000-3,000 orders a day (done by smaller dark stores,' he gross order value (GOV) for the March quarter came in at Rs 4,670 crore – compared to Blinkit's Rs 9,421 crore – double from the year-ago period. For the company, however, this growth did not result in improved bottomlines, as quick commerce's adjusted Ebitda loss increased to Rs 840 crore against Rs 304 crore in the year-ago said that this was on account of spending on customer acquisition and brand marketing, which led to a 60% growth in monthly transacting users (MTUs).Several brokerages have pegged Blinkit to have the highest market share in the sector, followed by Zepto in the second spot. The quick commerce market is also seeing expansion coming from the likes of Flipkart and frontloading of dark store expansion and the associated costs on marketing also contributed to Swiggy's Rs 1,488 crore cash burn during the March quarter. As of March 31, its cash balance stood at Rs 6,695 crore against Rs 8,183 crore in the year-ago period.A broader slowdown and a seasonally weak quarter caused Swiggy's food delivery business to grow 17.6% YoY in terms of GOV – which is at the lower end of its 18-22% growth guidance. The food delivery growth for Swiggy during the period was, however, faster than rival Zomato, which posted a 16% on-year growth in GOV in the segment.'Food delivery is a relatively mature category, and we believe that sustained growth from hereon will be led by innovation towards bringing new consumers into the ecosystem and new meals into food delivery carts,' Majety said in a letter to the has been doubling down on its quick food delivery offering, Bolt, where it aggregates restaurants for 10-15-minute order fulfilments. It said that during the quarter, Bolt contributed 12% to the company's overall food delivery week, it said that Bolt has been expanded to 500 cities 'Cross-pollination of users from quick commerce is also becoming a significant source of food delivery user growth, since around 30% of users acquired on Instamart in the past six months are new to the Swiggy ecosystem,' Majety said.'Creation of segmented propositions on speed (Bolt) and affordability (Crazy deals, PocketHero) has helped improve the salience of the platform,' he added.
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Business Standard
09-05-2025
- Business
- Business Standard
Swiggy Q4 results: Loss widens to ₹1,081 cr despite record Instamart growth
Food delivery aggregator Swiggy saw its loss widen for the fourth quarter (January-March) of financial year 2024-25 (Q4FY25). The firm reported a consolidated loss of ₹1,081.1 crore for the quarter, compared to a loss of ₹554.7 crore in the corresponding quarter of FY24. The platform's consolidated revenue from operations jumped by 44.8 per cent to ₹4,410 crore from ₹3,045.5 crore in Q4FY24. For the full year, the company reported a loss of ₹3,116.7 crore, compared to the loss of ₹2,350 crore in FY24. Revenue for the full year touched ₹15,227 crore, up 35 per cent year-on-year (Y-o-Y). The company's losses widened as it invested in the quick commerce (qcom) business. Food delivery business reported revenue of ₹1,629.3 crore for Q4FY25, up 18.4 per cent Y-o-Y. Sequentially, revenue was flat with a marginal growth of 0.45 per cent. Quick commerce revenue almost doubled to ₹689 crore for Q4FY25 from ₹320.7crore in Q4FY24. Swiggy MD and Group CEO Sriharsha Majety said that FY25 was a year of many firsts for the firm. 'We launched multiple new apps, across Instamart, Snacc and, recently, Pyng, all of which are aimed at opening up new user-segments and markets,' said Majety. 'Our food delivery engine delivered the best-ever results across innovation and execution, driving category-leading growth and rising profitability in lockstep,' he added. Majety said the qcom industry is in a phase of rapid expansion and heightened competitive intensity, for which they have ramped up investments aimed at market expansion (Megapods), reach (over 1,000+ stores across 124 cities), and differentiation (Maxxsaver). 'Our 'out of home consumption' business turned profitable in Q4FY25, within just two years of its integration. Overall, we remain focused on growth, on the back of delivering unparalleled convenience to consumers,' said Majety. The company said its food delivery business' gross order value (GOV) continued to grow in line with guidance at a healthy 17.6 per cent Y-o-Y to ₹7,347 crore. 'Adjusted Ebitda (earnings before interest, taxes, depreciation and amortisation) grew 15.4 per cent quarter-over-quarter (Q-o-Q) and over five times Y-o-Y to ₹212 crore, and strong efficiency and execution drove a margin expansion to 2.9 per cent of GOV, up from 0.5 per cent a year ago,' said the firm. 'Improved salience through innovative services like speedier deliveries through Bolt (which powers 12 per cent food delivery orders already) and differentiated propositions like top-tier subscription programme 'One BLCK' continued to drive up consumer traction,' the company said. On the other hand, the company's qcom arm Swiggy Instamart accelerated its GOV growth to 101 per cent Y-o-Y (19.5 per cent Q-o-Q), clocking ₹4,670 crore in Q4. Average order value increased by 13.3 per cent Y-o-Y to ₹527 crore. 'Instamart added 316 new darkstores (+45 per cent Q-o-Q), its highest-ever during a quarter, driving up active darkstore area to 4 million square feet (msft) (+62 per cent Q-o-Q) in line with guidance,' said Swiggy. 'Investments in customer acquisition amid high competitive intensity saw MTUs (monthly transacting users) surge 40 per cent Q-o-Q to 9.8 million. Led by these growth investments (which imply a lifetime-high proportion of new stores and users in the operating mix), contribution margin declined from -4.6 per cent in Q3FY25 to -5.6 per cent in Q4FY25, and adjusted Ebitda loss increased to ₹840 crore,' said the company. Overall, Swiggy said the platform's business-to-consumer (B2C) GOV rose about 40 per cent Y-o-Y to clock ₹12,888 crore. It said consolidated adjusted Ebitda loss Y-o-Y increased to ₹732 crore due to significant growth investments in qcom. The platform's average MTU increased 35 per cent Y-o-Y to reach 19.8 million, with 35 per cent of all users utilising more than one service on the platform. The company said that Q4 is a seasonally weak quarter coming after the festive season, though it does benefit late in the quarter due to a popular sporting event. The qcom industry is going through a phase of heightened consumer awareness and store rollouts. 'Hence, we brought forward our expansion plans and added more stores than originally envisaged during the second half (H2) of FY25. With 498 new stores added over FY25, nearly half of our darkstores are less than a year old, with the average age of these stores being under four months,' according to Swiggy's shareholders' letter for Q4FY25. This has resulted in a higher underutilised network cost, which otherwise would have been spread over a longer period of time. Alongside these, customer incentives (including delivery fee discounts) have been at an elevated level, led by competitive intensity and launches in new geographies. The company said it had ₹6,695 crore cash and cash equivalents as of March 31, 2025. The shareholders' letter said the firm's 10-minute food delivery service Bolt provides a growing base of restaurant partners a full-stack and scaled-up route to participate effectively in the quick-food-delivery space. Over 45,000 restaurant brands across more than 500 cities are on Bolt today, offering 47 lakh dishes spanning 26 diverse cuisines. 'We work with restaurant partners on their internal processes to enable the preparation of food in sub-five minutes, while making available to them a delivery fleet almost on tap,' said the company.
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Business Standard
09-05-2025
- Business
- Business Standard
Swiggy Q4 result: Loss almost doubles to ₹1,081 cr, revenue jumps 45%
Swiggy Limited's consolidated loss widened by 95 per cent to ₹1,081.1 crore from ₹554.7 crore year-on-year (Y-o-Y) for the quarter that ended on March 31, 2025 (Q4 FY25). Sequentially, the net loss increased by 35.3 per cent from ₹799 crore. Meanwhile, the food delivery platform's consolidated revenue from operations jumped by 44.8 per cent to ₹4,410 crore from ₹3,045.5 crore in Q4 FY24. Moreover, the revenue jumped 10 per cent sequentially from ₹3,993 crore. 'FY25 was a year of many firsts for Swiggy. We launched multiple new apps, across Instamart, Snacc and recently, Pyng; all of which are aimed at opening up new user segments and markets. Our Food delivery engine delivered best-ever results across innovation and execution, driving category-leading growth and rising profitability in lockstep," Sriharsha Majety, MD and group CEO, Swiggy, said, commenting on the results. "Quick-commerce is in a phase of rapid expansion and heightened competitive intensity, for which we have ramped up investments aimed at market expansion (Megapods), reach (1000+ stores across 124 cities) and differentiation (Maxxsaver). Our Out of Home Consumption business turned profitable in Q4, within just 2 years of its integration. Overall, we remain focused on growth, on the back of delivering unparalleled convenience to consumers,' Majety added. Swiggy FY25 result For the entire year, Swiggy's consolidated loss widened to ₹3,116.8 crore compared to ₹2,350.2 crore reported at the end of FY24. While the consolidated revenue increased to ₹15,226.8 crore from ₹11,247.3 crore. Swiggy also stated that its average order value increased by 13.3 per cent Y-o-Y to ₹527. "Instamart added 316 new dark stores, a 45 per cent quarter-on-quarter increase, its highest-ever during a quarter," the statement added. Shares of Swiggy were down 0.19 per cent at ₹314 apiece on the BSE at the close of trading on Friday, ahead of the company's earnings announcement. Swiggy Q4 result highlights Loss (attributed to owners of the company): ₹1,081.2 crore Revenue: ₹4,410 Loss per share: ₹4.60 (Basic and diluted) Swiggy FY25 result highlights
Time of India
09-05-2025
- Business
- Time of India
Swiggy's Q4 loss widens to Rs 1,081 crore amid heavy quick commerce investment
Food delivery and quick commerce major Swiggy reported a sharp rise in its consolidated net loss to Rs 1,081.18 crore for the March quarter, nearly double the Rs 554.77 crore loss recorded a year earlier. The surge in losses was driven by aggressive investments in its quick commerce vertical, Instamart. Despite the widening losses, Swiggy's revenue from operations jumped 45% year-on-year to Rs 4,410 crore during the January-March period, compared to Rs 3,045.5 crore in the same quarter last year, according to a regulatory filing. However, total expenses ballooned to Rs 5,609.6 crore from Rs 3,668 crore in the year-ago period, reflecting the cost of expansion and customer acquisition efforts. Operation Sindoor 'Did not want to...': Pak def min gives absurd excuse for army's failure to withstand Op Sindoor Blackouts, sirens & Pak's failed attacks: 10 things that happened in the last 36 hrs '1971 war was not remotely as terrifying': Residents of border areas shell-shocked Swiggy said the gross order value (GOV) of its core food delivery business rose 17.6% year-on-year to Rs 7,347 crore. Adjusted EBITDA came in at Rs 212 crore, marking a fivefold jump year-on-year and a 15.4% rise quarter-on-quarter. This led to margin expansion to 2.9% of GOV, compared to just 0.5% a year ago. Instamart, Swiggy's quick commerce arm, saw its average order value grow 13.3% to Rs 527. The company added 316 dark stores in the quarter—a 45% increase sequentially—making it the highest addition in a single quarter to date. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cost Of Amusement Park Equipment From Mexico Might Surprise You - See Tips Amusement Park Equipment | search ads Click Here Undo Swiggy also reported a 40% quarter-on-quarter surge in monthly transacting users (MTUs), reaching 9.8 million, buoyed by increased investment in customer acquisition amid intense market competition. 'Quick commerce is in a phase of rapid expansion and heightened competitive intensity,' said Swiggy MD & Group CEO Sriharsha Majety. 'We have ramped up investments in market expansion, reach, and product differentiation. Our Out-of-Home Consumption business turned profitable in Q4, just two years after integration.' Majety added that Swiggy remains focused on growth, anchored by its promise of delivering unparalleled convenience to consumers. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
09-05-2025
- Business
- Time of India
Swiggy Instamart's operating losses peaked in Q4, says Sriharsha Majety
Food and grocery delivery platform Swiggy 's group CEO Sriharsha Majety said Friday that the operating losses for its quick commerce vertical Instamart peaked by the end of the January-March quarter, and the company expects to 'progressively unwind losses' from hereon. #Operation Sindoor India-Pakistan Clash Live Updates| Missiles, shelling, and attacks — here's all that's happening Pakistani Air Force jet shot down in Pathankot by Indian Air Defence: Sources India on high alert: What's shut, who's on leave, and state-wise emergency measures 'We believe that Instamart reached the peak of adjusted Ebitda losses in late-Q4; and from hereon, we expect to progressively unwind losses, the pace of which will be determined by our expansion of AOV (average order value) and take-rates, and the nature and quantum of competitive intensity,' Majety said in a letter to the shareholders. Take rate refers to the ratio of gross sales to revenue. For the January-March period, Swiggy reported a consolidated net loss of Rs 1,081 crore, up from Rs 555 crore a year ago. The company's operating revenue increased 45% year-on-year to Rs 4,410 crore during the quarter. Also Read: Swiggy Q4 Results: Net loss nearly doubles to Rs 1,081 crore despite 45% YoY revenue jump Notwithstanding Majety's comment on Instamart's losses, the company has underscored the role of competitive intensity in the quick commerce space on the pace of improvement for its bottomline. 'We therefore expect to reach contribution breakeven in three to four quarters from now,' the company said. In the July-September quarter, the company had set a target of Instamart to reach contribution breakeven by October-December 2025 quarter. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories During Q4 of FY25, Swiggy Instamart accelerated the pace of its dark store expansion, adding 316 and now has 1,021 active dark stores on its network, meeting the goal of 1,000+ dark stores by March 2025. This compares to 294 dark stores added by its Gurgaon-based rival Blinkit , which had 1,301 such micro-warehouses as of March 31. Also Read: 'Will grow Blinkit's market share aggressively': Eternal CFO Akshant Goyal
