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Swiggy’s revenue from operations rose 35% to Rs 3,222.2 crore in Q1FY25.
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The company’s losses increased 8% to Rs 611 crore due to mounting expenses.
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Swiggy filed an updated DRHP with Sebi, aiming for a Rs 10,414-crore IPO, potentially increasing to Rs 11,664 crore.
Swiggy, the food-tech giant, reported a 35% surge in revenue to Rs 3,222.2 crore in Q1FY25. However, its losses widened 8% to Rs 611 crore due to rising expenses, which increased 27% to Rs 3,908 crore. Despite this, Swiggy’s full-year revenue grew 36% to Rs 11,247 crore in FY24, with losses decreasing 44% to Rs 2,350 crore.
In comparison, Zomato reported a revenue of Rs 4,206 crore and a profit of Rs 253 crore in Q1FY25. Swiggy’s quick commerce arm, Instamart, saw a 108% revenue jump to Rs 374 crore, while Zomato’s Blinkit recorded Rs 942 crore in revenue. Swiggy’s IPO plans are underway, with an expected size of Rs 10,414 crore, potentially increasing to Rs 11,664 crore. Investors like Prosus, Accel, and Tencent will sell shares as part of the offer-for-sale.
Swiggy’s growth prospects and plans to expand its services beyond food delivery will likely attract investors. The company’s extraordinary general meeting on October 3 will decide on increasing the IPO size.
