The company reported loss before exceptional item of Rs 2.12 crore during the quarter as compared with loss before exceptional item of Rs 0.2 crore in Q2 FY24.

Total expenses jumped 22.9% to Rs 4,309.54 crore in Q2 FY25 as compared with 3,506.63 crore in Q2 FY24. Cost of material consumed stood at Rs 8.87 crore (down 49.63% YoY), advertising expenses was at Rs 537.11 crore (up 8.75% YoY), delivery and related charges was at Rs 1,094.85 crore (up 32.5% YoY) and finance cost stood at Rs 23.05 crore (up 48.9% YoY) during the period under review.

During the quarter, revenue from food delivery segment jumped 22.29% YoY to Rs 22.29 crore, revenue from out-of-home consumption (Dine-out, SteppinOut) stood at Rs 59.04 crore registering the growth of 66.36% YoY.

While revenue from supply chain distribution increased 22.04% YoY to Rs 1,452.55 crore in Q2 FY25, revenue from platform innovations which includes Swiggy- Gene, Swiggy-Minis, Insanely Goods etc, jumped 48.84% to Rs 25.29 crore during the quarter.

The company’s overall gross order value (GOV) grew 30% YoY to reach Rs 11,306 crore, while the consolidated adjusted EBITDA loss of Rs 341 crore represented a reduction in the loss by 30% YoY. Platform average monthly transacting users (MTU) grew 19.2% YoY to 17.1 million.

Swiggy’s Food delivery business witnessed a near doubling of its protability, with Adjusted EBITDA clocking Rs 112 crore at a 1.6% margin. GOV grew steadily by 5.6% QoQ to Rs 7191 crore. The company recently launched ‘Bolt’, a 10-minute restaurant food delivery service, which already accounts for 5% of the overall food deliveries within 8 weeks of launch.

Swiggy Instamart, the company’s quick commerce platform, witnessed a significantly improved performance where its GOV growth accelerated to 24 % QoQ to reach Rs 3,382 crore. The overall orders grew by 21 % QoQ, with orders per dark store per day rising 10% QoQ. Instamart added 12 cities and 52 stores during the quarter and improved its contribution margin by 124 bps QoQ to -1.9 %.

Swiggy Instamart plans to double its dark store count by March 2025 (vs 523 on March 2024), while increasing the average size of stores by 30-35%. As a result, the active dark store area will grow to over 2.5 times YoY to reach 4 million square feet by March 2025.

Sriharsha Majety, MD & Group CEO, Swiggy, said, “The remarkable performance of our food business operations comes on the back of strong innovation and execution. 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 32,000 unique items, within an average delivery time of 13 minutes.”

Swiggy made its stock market debut on 13 November 2024 and listed at Rs 412, a premium of 5.64% to the issue price of Rs 390. The initial public offer (IPO) of Swiggy was subscribed 3.59 times.

Swiggy is a new-age, consumer-first technology company offering users an easy-to-use convenience platform, accessible through a unified app - to browse, select, order and pay for food “Food Delivery", grocery and household items “Instamart”, and have their orders delivered to their doorstep through its on-demand delivery partner network.

Its platform can be used to make restaurant reservations “Dineout” and for events bookings “SteppinOut”, avail product pick-up/ drop-off services “Genie” and engage in other hyperlocal commerce (Swiggy Minis, among others) activities. Being among the first hyper local commerce platforms, Swiggy has successfully pioneered the industry in India, launching Food Delivery in 2014 and Quick Commerce in 2020.