Swiggy Q2 Results, Losses Down by 5%: Swiggy Share Price Rises Slightly

Swiggy Q2 Results FY25 reported a 5% year-on-year fall in consolidated losses. On the Swiggy Q2 results date which was December 3, 2024, the Swiggy share price closed at ₹501.85. On December 2, 2024, Swiggy share price closed at ₹493.70. So, let’s get into the details of the leading food delivery company’s Q2 FY25 revenue, losses, and segment results.

Key Highlights of the Swiggy Q2 Results FY25

Swiggy share price has positively reacted to the Q2 results by delivering returns of 1.66% in the last 1 day (as on December 3, 2024). Swiggy has reported its first quarterly results after its IPO was listed on the bourse on November 13. It was listed at a 7.69% premium over its IPO price of ₹390 on NSE at ₹420 per share.

• Swiggy made a consolidated net loss of ₹626 crores in the second quarter of FY25, which fell by 5% YoY from the ₹657 crores of losses made in Q2 of FY24.
• With the increase in the number of transacting users on the platform, Swiggy made a 30% YoY higher revenue of ₹3,601.5 crores in Q2 of FY25. It was ₹2,763.3 crores in the Q2 of FY24.
• The average MTU (Monthly Transacting Users) on the platform was 17.1 million in the July-September 2024 quarter, which increased by 19% YoY as mentioned in the Swiggy Q2 results.
• On the other hand, Zomato, the rival of Swiggy, earned revenue of ₹4,799 crores and PAT of ₹272 crores in the Q2 of FY25.

Swiggy Q2 Results: Segment Highlights

Quick Commerce

In the Swiggy Q2 quarterly results​ FY25, the company announced that Instamart (a quick-commerce branch) expanded by 24% QoQ and it is present in 54 cities, higher than the 27 cities in March 2024. 3 out of 7 cities are profitable for Instamart and the quick commerce losses were reduced by 124 basis points.

Food Delivery

As per the Swiggy Q2 results FY25, the food delivery segment GOV (Gross Order Value) grew by 5.6% QoQ to ₹7,191 crores and EBITDA increased by 2 times to ₹112 crores. Bolt (the eight-week-old 10-minute food delivery service) contributed 5% of the total food deliveries.

Swiggy Q2 Results: Management Commentary

Sriharsha Majety, MD and Group CEO of Swiggy said that – “The remarkable performance of our food business operations comes on the back of strong innovation and execution.

We are constantly trying to anticipate and improve the consumer’s experience. The recent launch of Bolt—our 10-minute delivery service—is an example of that. Similarly, in quick commerce, we are anticipating and responding to consumer behaviour to bring more and more convenience to urban households. Instamart today is present in 54 cities and delivers more than 32,000 unique items, within an average delivery time of 13 minutes.”

In the last 1 week, Swiggy share price has generated a positive return of 8.65% (as on December 3, 2024). Keep exploring stocks and open demat account with SMC Global Securities.

Reference:
SMC Global Securities Research Team

Author: All Content is verified by SMC Global Securities.