Costs near Rs 10K crore, Swiggy losses widen 2x to Rs 3.6K crores
05 November 2024
Food delivery aggregator Swiggy’s losses widened 2.24 times to Rs 3,628.9 crore during last financial year, as its expenses stood at 227 per cent of the previous year's cost. This was even as the decacorn’s revenue jumped more than twofold to Rs 5,704.9 crore in FY22, according to details from company research platform Tofler. While the company’s losses surged from a base of Rs 1,616.9 crore in FY21, its total expense in FY22 touched Rs 9,748.7 crore, from Rs 4,292.8 crore a year ago. Swiggy, the unlisted key competitor of Zomato, spent 300 per cent more on advertisement and promotional.
Food delivery aggregator Swiggy’s losses widened 2.24 times to Rs 3,628.9 crore during last financial year, as its expenses stood at 227 per cent of the previous year's cost. This was even as the decacorn’s revenue jumped more than twofold to Rs 5,704.9 crore in FY22, according to details from company research platform Tofler. While the company’s losses surged from a base of Rs 1,616.9 crore in FY21, its total expense in FY22 touched Rs 9,748.7 crore, from Rs 4,292.8 crore a year ago. Swiggy, the unlisted key competitor of Zomato, spent 300 per cent more on advertisement and promotional.
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