Reported 2 days ago
Swiggy, India's prominent online delivery platform, reported a nearly doubled quarterly loss due to increased marketing expenses aimed at customer acquisition in a competitive landscape. While total revenue rose 54% to ₹49.61 billion, consolidated net loss widened to ₹11.97 billion for the quarter ending June 30. The company continues to invest in marketing and its Instamart division, despite facing challenges in delivery partner availability due to monsoon rains.
Source: YAHOO