Swiggy reported a consolidated net loss of ₹625.5 crore in the second quarter of the current fiscal year, narrowing from ₹657 crore in the same period last year.
Q2 FY25 Key Highlights:
Net Loss: ₹625.5 crore (compared to ₹657 crore in Q2 FY24)
Revenue: ₹3,601.4 crore (up 30.3% YoY)
The platform’s overall gross order value (GOV) surged by 30% YoY, reaching ₹11,306 crore. A key highlight for Swiggy was its improved performance in the food delivery segment, which saw its adjusted EBITDA nearly double, reflecting a more efficient operation. The company’s quick commerce platform, Instamart, also performed strongly, with GOV growth accelerating by 24% QoQ, indicating its expanding presence across Indian cities.
Swiggy continues to innovate, with the launch of “Bolt,” a 10-minute delivery service, which now accounts for 5% of the total food deliveries just two months after its launch. The company’s growth trajectory is seen in its increasing number of monthly active transacting users (MTUs), which grew by 19.2% YoY to reach 1.71 crore.
Notably, Swiggy’s focus on profitability is also visible, with the company narrowing its losses and improving Adjusted EBITDA margins. Over the past 2.5 years, these margins have improved by nearly 1000 basis points. Despite competitive pressure, the platform’s financials show a continued path toward sustainable growth