Swiggy's gross revenue crosses Rs 5,700 Cr in FY22, losses up 2X
05 November 2024
After witnessing a 27% dip in its scale during FY21, India’s largest privately valued food and grocery delivery firm Swiggy has made a comeback in FY22 as the firm’s revenue grew over two-fold. However, the growth has come at a cost and Swiggy’s losses more than kept pace with the growth in scale.
While we delve deep into its expenditure and loss pattern in the second part of the story, first let’s focus on the company’s revenue side.
Swiggy’s revenue from operations (gross revenue) spiked 2.2X to Rs 5,705 crore during the fiscal year ending March 2022 as opposed to Rs 2,547 crore in FY21, according to its annual financial statement with the Registrar of Companies (RoC).
Swiggy primarily generates revenue by providing online platform services to partner merchants (including restaurant and grocery merchants and delivery partners), advertisement services, sale of food and traded goods, subscriptions, and other platform services. Collection from rendering platform services grew 83.3% to Rs 3,444 crore during FY22 from Rs 1,879 crore in FY21. Unlike FY21, it has not given revenue breakup from services in the last fiscal.
Sales of grocery and FMCG products turned out to be the second largest revenue generator during the last fiscal and collections from the same shot up 3.9X to Rs 2,036 crore in FY22 from Rs 517 crore in FY21.
After witnessing a 27% dip in its scale during FY21, India’s largest privately valued food and grocery delivery firm Swiggy has made a comeback in FY22 as the firm’s revenue grew over two-fold. However, the growth has come at a cost and Swiggy’s losses more than kept pace with the growth in scale. While we delve deep into its expenditure and loss pattern in the second part of the story, first let’s focus on the company’s revenue side. Swiggy’s revenue from operations (gross revenue) spiked 2.2X to Rs 5,705 crore during the fiscal year ending March 2022 as opposed to Rs 2,547 crore in FY21, according to its annual financial statement with the Registrar of Companies (RoC). Swiggy primarily generates revenue by providing online platform services to partner merchants (including restaurant and grocery merchants and delivery partners), advertisement services, sale of food and traded goods, subscriptions, and other platform services. Collection from rendering platform services grew 83.3% to Rs 3,444 crore during FY22 from Rs 1,879 crore in FY21. Unlike FY21, it has not given revenue breakup from services in the last fiscal. Sales of grocery and FMCG products turned out to be the second largest revenue generator during the last fiscal and collections from the same shot up 3.9X to Rs 2,036 crore in FY22 from Rs 517 crore in FY21.
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