Swiggy reported a pointy enhance in its promoting and gross sales promotion expenditure for the quarter ended December 31, 2024, reaching Rs. 751.5 crore, marking a 65.3% year-on-year (YoY) surge from Rs. 454.5 crore in the identical quarter final 12 months. The advert spend additionally registered a 39.9% sequential rise from Rs. 537.1 crore in Q2.
Regardless of the elevated promoting bills, Swiggy’s income from operations grew considerably, posting a 30.9% YoY enhance to Rs. 39,930.7 crore for the quarter ended December 31, 2024, in comparison with Rs. 30,486.9 crore in Q3 FY24. Quarter-on-quarter, income noticed a ten.9% uptick from Rs. 36,014.5 crore in Q2 FY25.
Nevertheless, the corporate continued to report losses, with a consolidated web lack of Rs 7,990.8 crore in Q3 FY25, widening from Rs 5,743.8 crore in the identical interval final 12 months and Rs 6,255.3 crore within the earlier quarter.
Regardless of the losses, Swiggy stays targeted on increasing its fast commerce and provide chain companies. The short commerce section, together with Instamart, continues to be a key progress driver for the corporate.
Sriharsha Majety, MD and Group CEO, Swiggy stated in a ready assertion, “The secular growth in Meals supply margins and money circulate era is balanced by progress investments being made in Fast-commerce together with darkish shops growth and advertising, amidst excessive aggressive depth within the near-term”.
Written with the View : afaqs