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Swiggy Q3 Result and Highlight Overview
Swiggy Q3 Result: Swiggy’s Q3 performance brought a mix of growth and challenges. This quarter showed progress in multiple business segments, though losses in some areas persisted. Here’s a simple and detailed breakdown.
Key Financial Highlights
- Net Loss: Swiggy reported a consolidated net loss of ₹799 crore, compared to ₹574 crore in the same period last year and ₹625 crore in the previous quarter.
- Revenue: The company’s revenue grew by 31% year-over-year (YoY) to reach ₹3,993 crore, and by 11% quarter-over-quarter (QoQ).
- EBITDA Loss: Losses before interest, taxes, depreciation, and amortization (EBITDA) were recorded at ₹724 crore compared to ₹526 crore last year and ₹575 crore in the previous quarter.
- Margins: Margins stood at -18.17%, compared to -17.25% YoY and -15.95% QoQ.
Performance by Business Segments
Food Delivery Growth
- Food delivery revenue rose by 23.5%.
- The segment’s EBIT (Earnings Before Interest and Taxes) was ₹193 crore, a significant jump from ₹26 crore YoY.
Quick Commerce Expansion
- Quick commerce revenue surged by 114%.
- Despite growth, EBIT losses increased to ₹528 crore from ₹310 crore last year.
CEO Insights
Swiggy’s CEO shared key points about the company’s focus during the festive season:
- Segmented Offerings: Introduction of services like Bolt and Snacc, a 10-minute food delivery option.
- B2C Growth: The platform saw a 38% YoY increase in B2C Gross Order Value (GOV).
- Investments: Continued investments in Quick-Commerce and expansion of dark stores.
- Instamart Expansion: Instamart added 86 new stores in January 2025, increasing Monthly Transacting Users (MTUs) by 2 million, reaching 9 million.
Swiggy Q3 Highlights
- Gross Order Value: B2C GOV rose by 38% YoY, clocking ₹12,165 crore.
- EBITDA Improvements: Consolidated adjusted EBITDA loss reduced by 2% YoY to ₹490 crore.
- Food Delivery: The GOV for food delivery grew by 19.2% YoY.
- Innovations like Bolt and improved execution led to better user additions.
- Adjusted EBITDA margins for food delivery expanded to 2.5% of GOV.
- Instamart Performance:
- Instamart’s GOV grew by 88.1% YoY.
- Dark store rollout accelerated, with 96 new active dark stores in Q3, nearly double the number in Q2.
- Instamart services are now available in 84 cities.
- The company is on track to achieve a 4 million sq. ft. active dark store area by March 2025.
- Out-of-Home Consumption: This segment saw a 68% YoY increase in GOV.
- The Dineout business achieved break-even in December 2024.
Focus Areas for the Future
Swiggy continues to emphasize strategic growth in several key areas:
- Enhanced User Experience: Innovations like Bolt and 10-minute delivery options help improve user satisfaction.
- Quick Commerce Investments: Despite current losses, Swiggy remains optimistic about long-term profitability in this space.
- Expansion of Dark Stores: Accelerating the rollout to strengthen the Instamart network.
- Market Reach: Increasing the presence of Instamart in new cities to meet rising consumer demands.
- Out-of-Home Dining: Continued focus on capturing growth in this segment.
FAQs
What is Swiggy’s current financial loss for Q3?
Swiggy reported a net loss of ₹799 crore for Q3, an increase compared to previous periods.
How much did revenue grow in Q3?
Swiggy’s revenue grew by 31% YoY and 11% QoQ, reaching ₹3,993 crore.
What are the new features launched by Swiggy in Q3?
The company introduced Bolt, Snacc (10-minute food delivery), Swiggy Scenes for restaurant bookings, and One BLCK for premium subscription users.
How did the food delivery segment perform?
Food delivery revenue grew by 23.5%, with EBIT reaching ₹193 crore compared to ₹26 crore YoY.
Read More:
What is happening with Instamart?
Instamart expanded by adding 86 new stores and grew its user base to 9 million, with a GOV increase of 88.1% YoY.
Swiggy’s Q3 results highlight strong revenue growth and strategic expansions, particularly in food delivery and quick commerce. Despite persistent losses, the company’s innovations and investments indicate a focus on long-term sustainability and improved user experience.
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