Swiggy pours Rs 751 crore into ads as losses widen; AdEx up 65% in Q3 FY25

Despite a jump in revenues, the company, in its filing on the stock exchange, reported that its consolidated losses have widened to Rs 799 crores in the quarter ending December 31, 2024, as compared to Rs  574.3 crores in the same period last year 

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New Delhi: Swiggy, on Wednesday, reported its quarterly results for Q3FY25, highlighting a massive 65% on-year growth in their advertising spends. 

The ad and sales promotion expenses for the quarter ending December 31, 2024 came out to be at Rs 751.48 crores, jumping from Rs 454.54 crores in the corresponding quarter previous year. 

On a sequential basis, the ad expenses have grown almost 40%, rising from Rs 537.11 crores. 

The food delivery platform reported a consolidated revenue, from operations, of Rs 3993 crores, rising by 31% on-year. In the corresponding quarter previous year, the revenues for Swiggy stood at Rs 3048.6 crores. The revenues rose at almost 11% sequentially from Rs 3601.4 crores. 

However, despite this jump in revenues, the company, in its filing on the stock exchange, reported that its consolidated losses have widened to Rs 799 crores in the quarter ending December 31, 2024, as compared to Rs  574.3 crores in the same period last year. 

While the food delivery segment of the platform was buoyant, the quick commerce segment of Swiggy, Instamart, emerged as the laggard. The losses in the segment widened from Rs 310 crores in Q3FY24 to Rs 527.6 crores in Q3FY25. Instamart is currently operational in 84 cities across the country. 

The Gross Order Value (GOV) for Swiggy’s food delivery business grew 19.2% on-year and reached Rs 7,436 crores. Swiggy Instamart also reported a growth in GOV reaching Rs 3,907 crores. 

Commenting on the results, Sriharsha Majety, MD & Group CEO, Swiggy, said, “We continued our focus on creating segmented offerings for the consumer during the festive quarter, which we believe will open up more consumption occasions. In recent months, we've introduced Bolt and Snacc (10-minute food delivery), expanded into new categories within Quick-Commerce, and plan to offer an even greater assortment. 

We've also launched Swiggy Scenes focused on restaurant event reservations; and introduced One BLCK, the premium tier of our Swiggy One subscription program. We delivered higher YoY growth across all 3 of our primary businesses during Q3, which accelerated B2C GOV growth to 38% YoY.”

Swiggy ad spends quarter results
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