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Swiggy's losses have doubled in a year
Swiggy just bumped up its platform fee from ₹12 to ₹14 in some busy areas, hoping to balance out a massive jump in losses—₹1,197 crore for the April-June quarter, which is double last year's number.
Still, their revenue shot up by 54% to ₹4,961 crore, driven by strong order volumes and increased investments in Instamart.
Fee hike won't make much of a difference
While the fee hike might help with expenses, it only covers a tiny slice of the average order (usually ₹500-₹600).
Swiggy is also feeling the heat from new rivals like Ownly by Rapido, who charge restaurants much lower commissions (8-15%) compared to Swiggy's 16-30%.