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.
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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I’m Rahul Chaudhary, and I write about everything related to the Share Market. From Stock Trends and Share Prices to the Latest News and IPO Updates, my articles aim to provide you with valuable insights to help you navigate the world of investing. Stay tuned for expert tips and updates to keep you informed!
