Swiggy has reported a significant net loss of ₹1,092 crore for the July-September quarter, marking a 74.4% increase from ₹626 crore in the same period last year. Despite this, the food and grocery delivery platform saw its revenue rise by 54% to ₹5,561 crore, driven by strong performance in both food delivery and quick commerce segments. The loss, although lower than the ₹1,197 crore recorded in the previous quarter, highlights the financial strain from the expansion of its quick commerce arm, Instamart.

Total expenses surged by 56% year-on-year to ₹6,711 crore, primarily due to increased delivery costs, advertising, and employee expenses. The adjusted EBITDA loss widened to ₹695 crore, up from ₹341 crore a year ago, but showed improvement from ₹813 crore in the previous quarter. Swiggy's core food delivery business generated ₹2,206 crore in revenue, reflecting a 22% year-on-year growth, with a gross order value (GOV) increase of nearly 19% to ₹8,542 crore.

Monthly transacting users (MTUs) grew by 34% to 22.9 million, indicating strong consumer engagement. CEO Sriharsha Majety noted that despite challenges such as unseasonal rainfall affecting order volumes, customer engagement remained robust. Instamart, while a key growth driver with revenue doubling to ₹1,038 crore, also reported a significant loss of ₹849 crore due to high operating costs.

Swiggy added only 40 new dark stores during the quarter, bringing the total to 1,102, as it shifts focus from rapid expansion to improving productivity. The company plans to raise up to ₹10,000 crore through a qualified institutional placement, with a board meeting scheduled for November 7 to discuss this move. As of September, Swiggy had ₹4,605 crore in cash, which is expected to increase with the anticipated sale of its stake in Rapido for ₹2,400 crore. This fundraising effort aims to enhance Swiggy's financial flexibility amid a competitive market landscape.