Swiggy FY22 loss doubles to Rs 3,629 crore

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Swiggy FY22 loss doubles to Rs 3,629 crore

January 03

09:18 2023

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by indadmin

BENGALURU, JAN 3: Food delivery giant Swiggy’s FY22 losses more than doubled to Rs 3,629 crore in FY22 compared to Rs 1,612 crore in FY21.

According to its filings with the Ministry of Corporate Affairs, Swiggy’s revenues spiked to Rs 6,120 crore from Rs 2,675.9 crore in the previous fiscal. Its revenues in FY20 stood at Rs 3,727.7 crore.

The food delivery company said its business has shown strong growth throughout the year and has grown by 1.6x from March 2021 level with a strong focus on customer acquisition and retention and supply improvements, among others.

It reported expenses of Rs 9,574 crore in FY22 as against Rs 4,139 crore in the year-ago period. “We continued to focus on growth post business recovery from COVID, particularly on the expansion of our quick commerce offering,” it said.

-TNIE