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Swiggy Reports ₹625.5 Cr Net Loss in Q2 Despite Revenue Growth
Last Updated: 3rd December 2024 - 06:04 pm
Food delivery platform Swiggy Ltd. disclosed a net loss of ₹625.5 crore for the September quarter, marking its first quarterly report since going public last month. Swiggy recorded revenue of ₹3,601 crore in the September quarter, an increase from ₹2,763 crore in the same period last year and ₹3,222 crore in the June quarter.
Swiggy Q2 Results Highlights
• Revenue: ₹3,601 crore for the Septehttps://www.5paisa.com/stocks/swiggy-share-pricember quarter, compared to ₹2,763 crore last year.
• Net Loss: ₹625.5 crore during the September quarter.
• EBITDA: Loss of ₹555 crore.
• Market Reaction: Surged by up to 9% during early trading on Tuesday
Stock Market Reaction
Swiggy's share price, which surged by up to 9% during early trading on Tuesday, have since pared their gains and stabilized at ₹495.
About Swiggy
Swiggy, a leading food delivery service based in Karnataka, India, operates in the online food delivery market, providing customers with the convenience of ordering meals from an extensive selection of restaurants. Its platform enables users to explore various cuisines, place orders, and have food delivered directly to their doorstep. With a user-friendly interface, Swiggy allows customers to browse menus, read reviews, and track orders in real-time. Partnering with a wide array of restaurants, from local eateries to well-known chains, Swiggy ensures a diverse range of dining options for its users.
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