Tech
ETtech Explainer: Swiggy’s losses balloon even as revenue rise
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Swiggy’s business is expanding — and so are its losses. As competition in India’s fast-growing quick-commerce sector heats up, the food-delivery giant is racing to grow market share, even if that means burning through cash at a brisker pace.
The food and grocery delivery platform’s operating revenue increased 54% year-on-year (YoY) to Rs 5,561 crore on the back of rapid growth in quick commerce in the June-September quarter. This, even as the company reported 74% YoY expansion in net loss to Rs 1,092 crore for the same period.
While Swiggy’s…
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