Swiggy Instamart’s operating losses peaked in Q4, says Sriharsha Majety

Food and grocery delivery platform Swiggy’s group CEO Sriharsha Majety said Friday that the operating losses for its quick commerce vertical Instamart peaked by the end of the January-March quarter, and the company expects to “progressively unwind losses” from hereon.“We believe that Instamart reached the peak of adjusted Ebitda losses in late-Q4; and from hereon, we expect to progressively unwind losses, the pace of which will be determined by our expansion of AOV (average order value) and take-rates, and the nature and quantum of competitive…