Heavy quick commerce spend pushes Swiggy’s Q4 losses to Rs 1,081 Cr
Swiggy clocked 45% growth in the current quarter, driven by strong sales in its quick commerce channel.
Food delivery and quick commerce platform Swiggy saw its losses almost double in the fourth quarter as heavy spending on quick commerce further dragged the company's bottom line.
The Sriharsha Majety-led Swiggy saw its losses widen to Rs 1,081 crore from Rs 553.6 crore in the previous year. On a quarter-over-quarter basis, the company's losses grew by 35% from Rs 799 crore.
According to filings with the exchanges, the Bengaluru-based company's operating revenue increased 45% to Rs 4,410 crore in the quarter ended March 2025, up from Rs 3,045 crore in FY24.
Swiggy Instamart, which competes with quick commerce unicorn Zepto and market leader Blinkit, more than doubled its operating revenue to Rs 689 crore, rising for the third consecutive quarter. However, the growth came at a cost with the segment's losses widening to Rs 770 crore from Rs 272 crore in the last year and Rs 527 in the previous quarter.
"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)," shared Sriharsha Majety, MD & Group CEO, Swiggy in a press note.
The company's core food delivery business, its largest segment by size, posted a topline of Rs 1,629 crore, marginally less than Rs 1,636 crore it posted in the previous quarter. On a year-on-year basis, the growth was more than 18%.
During the quarter, Swiggy's Dineout business posted earnings of Rs 23 crore, an improvement from a loss of Rs 8 crore in the previous quarter. It posted a flat q-o-q growth with a topline of Rs 67 crore.
The company sold some of its private label brands to cloud kitchen operator Kouzina for an undisclosed amount just days ago. The transaction comes amid growing disagreements between the National Restaurants Association of India and food delivery platforms.
Food delivery platforms are overall seeing a slowdown in consumer demand, hurt by low discretionary spending and a shortage of delivery riders due to the growing popularity of quick commerce.
Earlier this week, Swiggy had temporarily shut down its intra-city parcel delivery service, Swiggy Genie, citing operational issues.
During the quarter, Swiggy launched its B2B app Assure, which would be in direct competition with Zomato's Hyperpure. It also went operational with its professional services app Pyng, in Bengaluru.
Along with this, the company also launched MaxxSaver, rivaling Zepto's super saver in a bid to promote high cart sizes on the platform.
(The story has been updated to add a quote.)