Swiggy- Online food delivery platform Swiggy has suffered a loss (consolidated net loss) of Rs 626 crore in the second quarter of FY 2024-25. In the same quarter last year, the company lost Rs 657 crore. The company’s loss has reduced by 4.72% on an annual basis.
Revenue grew 30.33% to Rs 3601 crore in the July-September quarter. In July-September 2023-24, the company generated a revenue of Rs 2763 crore. The income from selling goods and services is called revenue. Swiggy was listed on the stock market on November 13, since then its stock has increased by 14.18%.
Swiggy revenue grew by 36% in FY 2024
Swiggy’s financial condition also improved in FY 2024. Swiggy’s revenue grew 36% to Rs 11,247 crore in FY2024 from Rs 8,265 crore in the previous financial year.
At the same time, the company also reduced its loss by 44% during this period and it stood at Rs 2,350 crore in FY 2024 from Rs 4,179 crore in the previous year. The company has reduced its losses by keeping its costs under control.
Although Swiggy’s performance is less than that of Zomato, it has still reduced the gap with its rival in FY24. Zomato recorded a revenue of Rs 12,114 crore in FY 2024, while Swiggy’s revenue stood at Rs 11,247 crore. Similarly, Zomato made a profit of Rs 351 crore, while Swiggy’s loss was Rs 2,350 crore.
Shares of Swiggy Limited and ACME Solar Holdings Limited have been listed on the stock exchange today (13 November). Swiggy’s share was listed at ₹ 420 on NSE, 7.69% above the issue price. On BSE, it was listed at ₹ 412, 5.64% above the issue price. Its issue price was ₹ 390 per share. After the day’s trading, the share closed at ₹ 455.95, up 16.91% from the issue price.
At the same time, ACME Solar Holdings’ share was listed at ₹ 251 on NSE, 13.15% below the issue price. On BSE, this share was listed at ₹ 259, 10.38% below the issue price. The issue price of ACME Solar Holdings’ initial public offer was ₹ 289 per share. After the day’s trading, it closed at Rs 253.50, down 12.28% from the issue price.
