Swiggy Q3 results: Net loss widens 39% to ₹799 crore; revenue up 31%

Food delivery giant Swiggy on Wednesday reported a 39% rise in consolidated net loss, totalling ₹799 crore in the quarter ending December 2024, compared to ₹574 crore in the same quarter of the previous year. The foodtech company posted a net loss of ₹625 crore in Q2 FY25.

The Bengaluru-based company’s revenue from operations increased by 30.99% standing at ₹3,993 crore in Q3 FY25, compared to ₹3,048.7 crore in the same quarter of previous year.

The company witnessed a 38% YoY jump in Gross Order Value (GOV) to ₹12,165 crore during the quarter under review, while its consolidated adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) loss narrowed 2% YoY to ₹490 crore, despite a ₹149 crore QoQ rise.

“The platform’s Average MTU increased 25.3% YoY to reach 17.8 million; with nearly a third of all users utilising more than one service on the platform,” the company adds.

Speaking on the quarterly financial result, Sriharsha Majety, MD & Group CEO of Swiggy said, “In recent months, we've introduced Bolt and Snacc (10-minute food delivery), expanded into new categories within Quick-Commerce, and plan to offer an even greater assortment. We've also launched Swiggy Scenes focused on restaurant event reservations; and introduced One BLCK, the premium tier of our Swiggy One subscription program. We delivered higher YoY growth across all 3 of our primary businesses during Q3, which accelerated B2C GOV growth to 38% YoY.”

In December 2024, the food tech giant launched its invite-only premium membership, One BLCK at ₹299 for a three-month plan.

“The secular expansion in Food delivery margins and cashflow generation is balanced by growth investments being made in Quick-commerce including darkstores expansion and marketing, amidst high competitive intensity in the near term. With this thrust, Instamart added another 86 stores in January 2025, and has grown MTUs to 9 million (+2 million),” Majety adds.