MUMBAI: Swiggy is eyeing operational profitability by Dec 2025, the company said in its first earnings after its public debut in Nov.
The company’s net losses narrowed to Rs 625.5 crore on a consolidated basis in the Sept quarter from Rs 657 crore in the year-ago period. Revenue from operations increased by 30% year-on-year to Rs 3,601.4 crore.
In a letter to shareholders, the firm said that at the consolidated group level, it expects to achieve positive adjusted ebitda by Q3 FY26. Swiggy’s rival Zomato, with which it competes in both the food delivery and quick commerce markets, is profitable. “Our food delivery business turned profitable last year, and continues to ramp-up… quick commerce is in the investment phase, amidst rapid expansion of its addressable market and substantial competitive intensity in the near-term,” the company said.
The gross order value of Swiggy’s food delivery business grew by 15% year-on-year to Rs 7,191 crore. The firm’s recently-launched 10-minute food delivery service Bolt already accounts for 5% of its total food delivery orders. Swiggy will build more consumption occasions and use-cases for consumers to fuel the growth of its food delivery business which had 14.7 million average monthly transacting users as of Q2. For its quick commerce business Instamart – which competes with players like Zomato’s Blinkit, Zepto and BigBasket – the growth strategy will be to launch in new cities as well as deepen the footprint in existing markets. Plans are afoot to more than double its active dark store area to 4 million square feet by March 2025 through a mix of new dark store additions and larger sized stores.
