Swiggy Q2 2024-25 Financial Performance Summary

03 December 2024

• Financial Performance: In Q2FY25, Swiggy reported a revenue from operations of ₹3,601.45 crore. The Adjusted EBITDA for the quarter stood at ₹-341 crore. Segment-wise revenues were as follows: Food Delivery generated ₹1,574 crore, Out of home consumption contributed ₹59 crore, Quick Commerce contributed ₹490 crore, Supply Chain and Distribution brought in ₹1,452.56 crore, and Platform Innovations added ₹25.3 crore. As of September 2024.
  
• Company Insights: Swiggy has made significant strides over the past decade, reaching over 118 million users and delivering nearly 3.5 billion orders. The company's network now includes 609 dark stores across 44 cities, showcasing notable growth and profitability improvements in both the food delivery and quick commerce segments. Swiggy continues to innovate and expand, particularly in the quick commerce sector, with plans to double the dark store area by March 2025.
  
• Future Outlook and Plans: Swiggy is targeting high-teens growth in Gross Order Value (GOV) for its food delivery segment, with the category expected to grow at a compound annual growth rate (CAGR) of 18-22% over the medium term. The company plans to double its store count and increase the average store size in quick commerce, aiming for a total dark store area of 4 million square feet by March 2025. Swiggy is also focusing on affordability and new consumption use cases through initiatives like Bolt, PocketHero, and Daily meals. The company is on track to achieve profitability by Q3FY26.