Highlights
- Net loss widened 39% YoY to ₹799 crore in Q3FY25
- Revenue from operations increased 31% YoY to ₹3,993 crore
- Gross Order Value (GOV) grew 38% YoY to ₹12,165 crore
- Adjusted EBITDA loss reduced 2% YoY to ₹490 crore
- Swiggy shares closed 3.6% lower at ₹418.6 on BSE
Swiggy Reports ₹799 Crore Net Loss in Q3FY25
Food delivery giant Swiggy Ltd reported a net loss of ₹799 crore in Q3FY25, marking a 39% increase from ₹574 crore in Q3FY24, according to regulatory filings. Despite widening losses, the company’s revenue surged 31% YoY to ₹3,993 crore, compared to ₹3,049 crore in the same period last year.
Revenue & Profitability Trends
| Metric | Q3FY25 | Q3FY24 | YoY Change |
|---|---|---|---|
| Net Loss | ₹799 crore | ₹574 crore | +39% |
| Revenue | ₹3,993 crore | ₹3,049 crore | +31% |
| Gross Order Value (GOV) | ₹12,165 crore | – | +38% |
| Adjusted EBITDA Loss | ₹490 crore | ₹500 crore | -2% |
Source: Company Filings
Factors Impacting Performance
1. Investment in Quick-Commerce Expansion
Swiggy’s losses have widened as the company continues heavy investments in quick-commerce, including dark store expansion and marketing efforts, amid rising competition in the segment.
“The secular expansion in food delivery margins and cash flow generation is balanced by growth investments being made in quick-commerce, amidst high competitive intensity in the near term,” said Sriharsha Majety, MD & Group CEO, Swiggy.
2. Competitive Pressure from Zomato
Swiggy’s earnings come at a time when its key competitor, Zomato, also reported a 57% YoY drop in net profit to ₹59 crore for Q3FY25.
However, Zomato’s revenue from operations surged 64% YoY to ₹5,404 crore, reflecting its stronger position in the market. The company had also flagged concerns over a potential slowdown in the food delivery industry, which could impact future growth for both players.
3. Marginal Improvement in EBITDA Losses
Swiggy’s consolidated adjusted EBITDA loss reduced by 2% YoY to ₹490 crore, showing some improvement. However, on a sequential basis, EBITDA loss increased slightly to ₹149 crore, indicating continued cost pressures.
Stock Market Reaction
Swiggy’s stock reflected investor concerns, falling 3.6% on February 5 to close at ₹418.6 per share on the BSE.
Swiggy’s Q3FY25 results reflect a strong revenue growth trajectory (+31% YoY) but persistent profitability challenges due to aggressive investments in quick-commerce and rising competition. While Zomato faces similar challenges, its stronger revenue growth highlights the intense battle in India’s food delivery market.
Going forward, Swiggy’s ability to optimize costs and sustain its quick-commerce expansion will be key factors in determining its financial trajectory in the coming quarters.
