Swiggy, the popular food delivery and quick commerce giant, has set a target to achieve operational profitability by December 2025. In its first earnings report since going public in November, Swiggy revealed that its net losses for the September quarter had narrowed to Rs 625.5 crore, a slight improvement from the Rs 657 crore loss during the same period last year. The company saw a 30% year-on-year increase in its revenue from operations, reaching Rs 3,601.4 crore.
In a letter to shareholders, Swiggy announced its goal to attain positive adjusted EBITDA by Q3 FY26. While its competitor Zomato has already achieved profitability in the food delivery business, Swiggy noted that its own food delivery arm became profitable last year and is continuing to grow. However, its quick commerce segment is still in an investment phase, focusing on expanding its market presence and navigating competitive pressures.
Swiggy’s food delivery business recorded a gross order value of Rs 7,191 crore, marking a 15% year-on-year growth. The company’s new 10-minute food delivery service, Bolt, now represents 5% of total food delivery orders. To fuel growth, Swiggy plans to enhance its food delivery business by increasing consumer touchpoints. Its quick commerce business, Instamart, is poised for expansion with plans to open new cities and double its active dark store area to 4 million square feet by March 2025, expanding its footprint and strengthening competition against rivals like Zomato’s Blinkit, Zepto, and BigBasket.
