Swiggy's revenue up 54% in Q2, but losses widen
Swiggy, one of India's biggest food delivery apps, posted a net loss of ₹1,092 crore for July-September 2024—much higher than last year's ₹626 crore.
Still, their revenue shot up 54% to ₹5,561 crore, driven by higher order volumes and growth in its Instamart quick commerce business.
Swiggy's rapid growth is driven by higher order volumes
Swiggy's rapid growth is driven by higher order volumes and the expansion of its quick delivery services.
But costs are rising even faster—so profits are still out of reach.
For anyone watching startups or thinking about the business side
Swiggy's numbers show how tough the food delivery game is in India: growing fast is exciting, but making real money is still a challenge.
For anyone watching startups or thinking about the business side of your favorite apps, this story says a lot about what it takes to compete in such a crowded space.