Swiggy share price rises 7% on narrowing Q2 losses; revenue soars 30% YoY

Swiggy shares jumped 6.6 per cent in Wednesday's trade and logged an intraday high at Rs 534.85 per share. The buying interest sparked after the food delivery platform released its September quarter on Tuesday, post market hours.

 

Around 9:34 AM, Swiggy share price was up 3.13 per cent at Rs 517 per share. In comparison, the BSE Sensex was up 0.27 per cent at 81,061.02. The market capitalisation of the company stood at Rs 1,15,727.73 crore. The 52-week high of the stock stood at Rs 542.1 per share and 52-week low of the stock stood at Rs 390.7 per share.

 

 

Swiggy's consolidated net loss marginally narrowed in the second quarter of financial year 2025 (Q2FY25) to Rs 625.5 crore from Rs 657 crore a year ago. 

 

However, sequentially, the loss was up as the firm had reported a consolidated loss of Rs 611 crore in the first quarter of FY25.

 

Swiggy’s revenue from operations soared 30 per cent to Rs 3,601 crore during Q2FY25 as compared to Rs 2,763.3 crore a year ago. Its overall gross order value (GOV) too grew by 30 per cent year-on-year (Y-o-Y) to reach Rs 11,306 crore during Q2FY25. 

Swiggy's consolidated net loss marginally narrowed in the second quarter of financial year 2025 (Q2FY25) to Rs 625.5 crore from Rs 657 crore a year ago.  

 

The consolidated adjusted Earnings before interest, tax, depreciation, and amortisation (Ebitda) loss stood at Rs 341 crore which represented a reduction in the loss by 30 per cent Y-o-Y.

 

The platform's average monthly transacting users (MTU) grew 19.2 per cent Y-o-Y to 17.1 million. 

 

Swiggy Instamart, the company’s quick commerce platform, witnessed a significantly improved performance where its GOV growth accelerated to 24  per cent quarter-on-quarter (Q-o-Q) to reach Rs 3,382 crore. 

 

The overall orders grew by 21  per cent Q-o-Q, with orders per dark store per day rising 10 per cent Q-o-Q. Instamart added 12 cities and 52 stores during the quarter and improved its contribution margin by 124 basis points (bps) Q-o-Q to -1.9 per cent. 

 

“We are constantly trying to anticipate and improve the consumer's experience. The recent launch of Bolt- our 10-minute delivery service is an example of that. Similarly in quick commerce, we are anticipating and responding to consumer behaviour to bring more and more convenience to urban households. Instamart today is present in 54 cities and delivers more than 32000 unique items, within an average delivery time of 13 minutes," said Sriharsha Majety, MD & Group CEO, Swiggy.

 

Swiggy recently made its trading debut on bourses on November 13, 2024.