Swiggy Reports Narrower Quarterly Loss
Swiggy posted a narrower second quarter loss of 9.22 billion rupees as improved profitability in food delivery offset widening losses at its quick commerce unit Instamart. Revenue rose 36 percent year on year to surpass analyst estimates.
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SWIGGY LTD posted a consolidated net loss of 9.22 billion rupees ($97.24M) for the quarter ended September 30, narrowing from a loss of 10.92 billion rupees a year earlier. The result missed the 7.92 billion rupee loss expected by analysts per LSEG data. Revenue rose 36.1% year-on-year to 75.71 billion rupees, beating the 72.81 billion rupee estimate.
