Online food delivery platform Swiggy has suffered a loss of Rs 626 crore (consolidated net loss) in the second quarter of the financial year 2024-25. The company had suffered a loss of Rs 657 crore in the same quarter last year. The company's loss has reduced by 4.72% on an annual basis.
Revenue increased by 30.33% to Rs 3601 crore in the July-September quarter. The company had generated revenue of Rs 2763 crore in July-September 2023-24. Earnings from selling goods and services are called revenue. Swiggy was listed in the stock market on November 13, since then its share has increased by 14.18%.
Swiggy's revenue increased by 36% in FY 2024
Swiggy's financial condition also improved in FY 2024. Swiggy's revenue increased by 36% to Rs 11,247 crore in FY2024, from Rs 8,265 crore in its previous financial year.
During this period, the company also reduced its losses by 44% and in the financial year 2024 it stood at Rs 2,350 crore, which was Rs 4,179 crore in the previous year. The company has been helped in reducing losses by keeping its costs under control.
Although Swiggy's performance is lower than that of Zomato, it has still narrowed the gap to its rival in FY24. Zomato recorded revenue of Rs 12,114 crore in FY 2024, while Swiggy's revenue stood at Rs 11,247 crore. Similarly, Zomato made a profit of Rs 351 crore, while Swiggy had a loss of Rs 2,350 crore.
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Swiggy shares listed at ₹420, up 7.69%: 500 employees become millionaires; ACME Solar Holdings shares listed at ₹251, down 13.15%
Shares of Swiggy Limited and ACME Solar Holdings Limited have been listed on the stock exchange today (November 13). Swiggy shares were listed at ₹420 on NSE, 7.69% above the issue price. It was listed on BSE at ₹412, 5.64% above the issue price. Its issue price was ₹390 per share. After the day's trading, the shares closed at Rs 455.95, up 16.91% from the issue price.
At the same time, shares of ACME Solar Holdings were listed on NSE at ₹251, 13.15% below the issue price. This share was listed on BSE at ₹259, 10.38% below the issue price. The issue price of ACME Solar Holdings' initial public offer was ₹289 per share. After the day's trading, it closed at Rs 253.50, down 12.28% from the issue price.
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Food delivery company Zomato's profit increased by 388%: increased from Rs 36 crore to Rs 176 crore, revenue increased by 68% in the July-September quarter.
Food delivery company Zomato's profit in the July-September quarter has increased by 388% on an annual basis to Rs 176 crore. The company's consolidated net profit in the same quarter a year ago was Rs 36 crore.
Zomato released its results for the second quarter of financial year 2024-25 on Tuesday, October 22. The company's revenue in the second quarter increased by 68.50% to Rs 4,799 crore. Revenue in the same quarter a year ago was Rs 2,848 crore.
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