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3h ago

Swiggy Reports Q2 Surge in Revenue, Wider Loss, Sets Nov. 7 Board Meet on Rs 10,000-Crore Raise

A Nov. 7 board meeting will consider raising up to Rs 10,000 crore to fortify liquidity for faster Instamart expansion.

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Swiggy shares settled 0.20 per cent lower at Rs 418.10.
Swiggy Q2 Results

Overview

  • Revenue from operations rose 54% year-on-year to Rs 5,561 crore, while consolidated net loss widened to Rs 1,092 crore.
  • Total expenses climbed 55.7% to Rs 6,711 crore, led by higher purchases of stock-in-trade, advertising outlay, and delivery-related costs.
  • Platform activity accelerated, with gross order value up 48% to Rs 16,683 crore and average monthly transacting users reaching 22.9 million.
  • Instamart’s gross order value doubled to Rs 7,022 crore and the unit operated 1,102 dark stores across 128 cities, though its EBIT loss deepened to Rs 739 crore.
  • The company will weigh funding options including a QIP on Nov. 7, and expects roughly Rs 2,400 crore from its Rapido stake sale to bolster its treasury.