The company, which declared its results for the first time since it went public last month, marginally narrowed its consolidated net loss to ₹625.5 crore compared with ₹657 crore during the same period last year. Bloomberg consensus estimates had pegged the net loss at ₹635 crore.
Revenue from operations rose 30.3% to ₹3,601.4 crore, which was higher than the estimates of ₹3,543 crore. The company's earnings before interest, tax, depreciation, and amortisation (Ebitda) loss came in at ₹554 crore, nearly 26% better than the estimated loss of ₹750 crore.
The company said it is aiming to become operationally profitable by the end of next financial year. "At the consolidated group level, we expect to achieve positive adjusted Ebitda by Q3FY26 (Oct-Dec 2025)," it said in a letter to the shareholders.
Swiggy — which made its trading debut on November 13, more than three years after its nearest rival Zomato got listed — saw robust growth in its food delivery as well as quick commerce businesses.
However, it's still way behind Zomato, which reported a 389% jump in its consolidated net profit to ₹176 crore during the JulySeptember quarter.
This story is from the December 04, 2024 edition of Financial Express Mumbai.
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This story is from the December 04, 2024 edition of Financial Express Mumbai.
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