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Swiggy's revenue jumps 31% to Rs 3,993 crore in Q3FY25; net loss also jumps to Rs 799 crore

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Sumit Vishwakarma
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Swiggy q3fy25

Swiggy CEO Sriharsha Majety

Food delivery major Swiggy, which competes with Deepinder Goyal-led Zomato, has reported a net loss of Rs 799 crore for the third quarter of the 2024-25 financial year (Q3 FY25), higher than the net loss of Rs.574 crore in the same period last year. 

During the reporting quarter, the company’s revenue from operations stood at Rs 3,993 crore, marking a 31% year-on-year increase from Rs 3,048 crore in Q3 FY24.

Its total income also increased by nearly 31%, reaching Rs 4,095.8 crore compared with Rs 3,130.9 crore in Q3FY24.

Higher revenue but deeper losses

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The widening of Swiggy’s net loss came despite robust revenue growth, reflecting the company’s ongoing investments in new segments and offerings.

On a sequential basis, Swiggy’s revenue from operations grew 18.1% from Rs 3,301.45 crore in the July-September quarter (Q2 FY25), while its net loss also widened from Rs 625.5 crore in the same period.

The company’s Managing Director and CEO, Sriharsha Majety, said Swiggy is focusing on new products and services, including 10-minute food delivery initiatives under Bolt and Snacc, and is expanding its quick commerce segment.

Growth across multiple segments

According to the company’s filing, Swiggy’s food delivery business remains a key contributor to revenue. It generated Rs 1,636.8 crore in Q3FY25, up 3.8% from the previous quarter. Gross Order Value (B2C GOV) in food delivery grew by 19.2% year-on-year to Rs 7,436 crore.

The quick commerce business, Instamart, continues to be a strong growth driver, recording an 88.1% year-on-year increase in its GOV to Rs 3,907 crore. 

Revenue for Instamart rose 17.7% on a quarterly basis to Rs 576.50 crore from Rs 490 crore in Q2 FY25. The addition of 96 new active dark stores over the quarter boosted its reach and helped raise Monthly Transacting Users to 9 million, up by 2 million over the previous period.

Swiggy also reported contributions from Scootsy Logistics, which accounted for 42% of the company’s overall operating collection.

Income from Scootsy reached Rs 1,692 crore in Q3 FY25, a rise of 23% on a quarterly basis, and helped push total revenue—along with segments such as Dineout, Genie, and Swiggy Mini—to Rs.4,096 crore. 

However, higher expenses, including delivery charges, employee benefits, marketing, and overheads, led the company’s total costs to climb 32% to Rs 4,898 crore in Q3 FY25.

CEO commentary and future plans

Majety said Swiggy’s focus on segmenting consumer offerings during the festive quarter contributed to the overall revenue growth. He noted that the company launched Swiggy Scenes to drive restaurant event reservations and introduced One BLCK, the premium tier of the Swiggy One subscription program, to retain high-value customers.

Majety added that while food delivery continues to generate positive margins and cash flow, the company’s aggressive investments in quick commerce—such as expanding dark stores—are resulting in higher near-term losses.

Swiggy is also experimenting with 10-minute deliveries under Bolt and Snacc, offering items like breakfast foods, coffee, and baked goods from partners including Blue Tokai and The Whole Truth.

Competitive landscape

Swiggy’s main rival, Zomato, posted a 64.4% year-on-year increase in revenue to Rs 5,405 crore in Q3 FY25, up from Rs 3,288 crore in Q3 FY24, although its net profit fell 57.2% to Rs 59 crore during the same period. 

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