Swiggy Lost Rs 12 Crore/Day In 2022: Losses Increased To Rs ...
24 October 2024
Prior to this, the Netherlands-based firm’s share of trading losses in Swiggy widened to $180 million from $100 million in 2021. This was driven by investment in the quick commerce business, Swiggy Instamart, which peaked during the year, the company said in its annual report released on Tuesday. This indicates that the Swiggy posted a loss of nearly $556 million for the calendar year 2022. Although Swiggy has an April-March financial year, Prosus accounts have a lag of one quarter.
Swiggy Focused On Its Profitability Journey. The private equity group invested $299 million for the financial year ended March. Compared to the previous year, Prosus’ share of Swiggy’s revenue stood at $297 million which is up 40% from the previous year. A higher average order value and revenue from delivery fees and advertising sales drive it.
Prior to this, the Netherlands-based firm’s share of trading losses in Swiggy widened to $180 million from $100 million in 2021. This was driven by investment in the quick commerce business, Swiggy Instamart, which peaked during the year, the company said in its annual report released on Tuesday. This indicates that the Swiggy posted a loss of nearly $556 million for the calendar year 2022. Although Swiggy has an April-March financial year, Prosus accounts have a lag of one quarter. Swiggy Focused On Its Profitability Journey. The private equity group invested $299 million for the financial year ended March. Compared to the previous year, Prosus’ share of Swiggy’s revenue stood at $297 million which is up 40% from the previous year. A higher average order value and revenue from delivery fees and advertising sales drive it.
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