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  3. Swiggy Clocks Rs 11,247 Crore in Revenue in FY24; Cuts Losses by 44 % A…

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

5 Sept 2024

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Key Takeaways

Swiggy's revenue rose 36% to Rs 11,247 crore, with losses reduced by 44% to Rs 2,350 crore, showcasing strong financial progress.

Swiggy's revenue rose 36% to Rs 11,247 crore, with losses reduced by 44% to Rs 2,350 crore, showcasing strong financial progress.

Swiggy

Swiggy

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Expert Analysis

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.

Publisher:Outlook Business