Ordering from online grocery delivery platform Swiggy Instamart can now get expensive. Because the company is preparing to increase the delivery charges on every order. Swiggy is taking this decision as part of its plan to make the company profitable.
Moneycontrol has given this information quoting the company's Chief Financial Officer (CFO) Rahul Bothra. During the announcement of results for the second quarter of fiscal 2024-25 on Tuesday, the company's CFO said delivery charges are expected to rise over time. However, he did not give any time frame for the change.
Free delivery for Swiggy One loyalty program users According to reports, delivery is free only for users with Swiggy One's loyalty program. Other users will have to pay a dynamic fee. Blinkit, owned by Zomato, the market leader in the sector, charges a delivery fee on every order and has no loyalty program.
At the same time, Zepto also waives delivery charges for Zepto Pass (loyalty program) users, but charges others like Swiggy Instamart.
In the second quarter Swiggy loses ₹626 crore Online food delivery platform Swiggy in the second quarter of FY 2024-25 at Rs. 626 crore (consolidated net loss) has been faced. In the same quarter last year, the company earned Rs. 657 crore was lost. The company's losses fell by 4.72% year-on-year. The company announced Q2FY25 results on Tuesday (December 3).
Revenue rose 30.33% in the July-September quarter to Rs. 3601 crore has been done. The company in July-September 2023-24 Rs. 2763 crores in revenue. Earnings from the sale of goods and services is called revenue. Since Swiggy was listed on the stock market on November 13, its stock has gained 14.18%.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
