Swiggy’s losses increase by 74%: Net loss reaches ₹1,092 crore in July-September quarter; Shares fell 23% this year

Online food delivery platform Swiggy’s net loss in the July-September quarter increased by 74% year-on-year to ₹1,092 crore. The company had suffered a loss of ₹626 crore in the same quarter last year. At the same time, the operational revenue of the company has also increased by 54%.

The company’s operational revenue in the second quarter of this financial year stood at Rs 5,561 crore. The company had generated revenue of ₹3,601 crore in the same quarter last year.

Company’s shares fell 23% this year

Swiggy shares closed at Rs 418 today with a decline of 0.23%. The company’s shares have risen 1% in the last one month, 32% in the last six months. It has fallen by 8% in one year. The market cap of the company is Rs 95.65 thousand crore. Swiggy was listed in the stock market on 13 November 2024, since then its stock has fallen by 3%.

Company started from Bengaluru

Swiggy was started from Koramangala, Bengaluru. Founders Nandan Reddy and Sriharsha Majeti started the company with a few delivery partners and about 25 restaurants. Swiggy was not available on the app at that time. Therefore, people used to go to its website and choose their favorite restaurant and order food.

People started liking Swiggy’s service and due to this the company started getting recognition. The company launched its own app in the early months of 2015. With the help of the app, ordering food became easier for the customer.

India’s fastest unicorn

Swiggy is India’s fastest growing unicorn company. The company took less than 4 years to reach the unicorn level. The company, which was started in 2014, had become a company with a valuation of Rs 10 thousand crore by 2018.