Swiggy Clocks Rs 11,247 Crore in Revenue in FY24; Cuts Losses by 44 % Ahead of IPO

Swiggy’s FY24 Revenue Up 36% to Rs 11,247 Crore; Losses Cut by 44% Ahead of IPO.

Expert Analysis:

• Revenue Growth: Swiggy's operating revenue for FY24 increased by 36% to Rs 11,247 crore.

• Loss Reduction: The company reduced its losses by 44% to Rs 2,350 crore in the last fiscal year.

• Quarterly Performance: Revenue for the first three-quarters of FY24 was Rs 5,476 crore, with losses of Rs 1,600 crore.

• Food Delivery Business: Swiggy's food delivery business grew by 17% to Rs 6,100 crore.

• Instamart Revenue: Instamart, Swiggy’s quick commerce vertical, achieved Rs 1,100 crore in revenue in the last fiscal year FY24.

• IPO Plans: Swiggy plans to raise up to Rs 3,750 crore through equity and Rs 6,664 crore via an offer for sale in its IPO.