Swiggy Narrows Q4 Loss Amid Strong Food Delivery Growth
The Indian food delivery giant reported a consolidated loss of 8 billion rupees for the March quarter as revenue rose 4%. Growth was driven by a 23% increase in food delivery order value and a significant jump in the Instamart quick commerce segment.
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SWIGGY LTD narrowed its consolidated loss to 8 billion rupees in the March quarter as food delivery growth hit a four-year high. The loss narrowed by about a quarter from the previous year, while revenue from operations rose nearly 4% during the same period. Investors are watching Swiggy's push for profitability in India's $11.5 billion quick-commerce market against deep-pocketed rivals.
