Swiggy posts 39% revenue growth in Q2FY25, losses narrowed

Swiggy reported a 39% increase in revenue for the July-September period, reaching Rs 2,146.1 crore, up from Rs 1,547.7 crore in the same quarter last year. This growth was driven by a rise in the number of transacting users on the platform, according to the company’s regulatory filings.

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Swiggy’s losses for the period narrowed by 17%, dropping from Rs 590.8 crore to Rs 490.9 crore. This marks an improvement compared to the first quarter of FY25, where the company posted a revenue of Rs 1,952.9 crore and losses of Rs 497.5 crore.

Swiggy’s user base also saw significant growth, with the number of monthly transacting users (MTU) increasing by one million during Q2FY25. The total MTU now stands at 17.1 million, a 7% quarter-on-quarter (QoQ) growth and a 19% year-on-year (YoY) increase.

These results come as Swiggy declares its financial performance for the first time since its public listing last month. While Swiggy's losses have decreased, its rival Zomato posted a much higher revenue of Rs 4,799 crore with a profit of Rs 272 crore during the same quarter. Despite this, Swiggy’s growing user base and improved financial metrics signal a positive trajectory for the company.