• Swiggy reported a 39% YoY increase in its consolidated net loss to INR 799 Cr in Q3 FY25, while operating revenue rose 31% YoY to INR 3,993.1 Cr.
  • Swiggy Instamart’s loss widened 70% YoY to INR 527.68 Cr due to dark store expansion, while revenue jumped 114% YoY to INR 576.50 Cr.

Swiggy's stock tumbled over 8% in morning trading on Friday (February 14), hitting the day's low at INR 335.40 per share on the BSE. The sharp drop comes after the company reported weaker-than-expected earnings for Q3 FY25. With this latest decline, Swiggy’s shares have now fallen over 12% in the last seven trading sessions.

At 10:51 AM, the stock was trading at INR 336.90, marking a 7.80% drop from the previous close and standing 45% below its 52-week high. The stock has ended in the red in seven of the last eleven trading sessions.

Swiggy reported a 39% year-on-year (YoY) increase in its consolidated net loss to INR 799 Cr for Q3 FY25, up from INR 574.4 Cr in the corresponding quarter last year. However, its operating revenue surged 31% YoY to INR 3,993.1 Cr from INR 3,048.6 Cr in Q3 FY24.

A recent research note by brokerage Citi pointed out that Swiggy Instamart is trailing in the quick commerce segment, with Blinkit and IPO-bound Zepto holding larger market shares. According to Citi, Blinkit leads with a 41% market share, while Instamart is likely in third place, behind Zepto, with an estimated 23% share. Analysts noted that Zepto’s market share might be “par/higher” than Swiggy’s, although an exact figure was not provided.

Swiggy’s quick commerce arm, Instamart, reported a 70% YoY increase in losses, reaching INR 527.68 Cr in Q3 FY25 due to continued investments in dark store expansion. However, revenue jumped 114% YoY and 17% quarter-on-quarter to INR 576.50 Cr, with its gross order value (GOV) rising 88% YoY to INR 3,907 Cr.

Meanwhile, Zomato reported a 57% decline in its consolidated net loss to INR 57 Cr in Q3 FY25. Its quick commerce unit, Blinkit, saw its adjusted EBITDA loss surge nearly 13X to INR 103 Cr in the December quarter from INR 8 Cr in the previous quarter.

Edited by Harshajit Sarmah