Swiggy, the food tech and grocery delivery giant, reported a 30% year-over-year revenue surge, reaching Rs 3,601.5 crore in the July-September quarter, up from Rs 2,763.3 crore in the same period last year. This driven by a growth in the number of active customers making transactions on the platform. Notably, the company’s losses decreased by 5%, from Rs 657 crore to Rs 625.5 crore, during the same period.

In the preceding quarter (Q1FY25), Swiggy reported a revenue of Rs 3,222.2 crore, with losses amounting to Rs 611 crore. Zomato, Swiggy’s long-standing competitor, reported a revenue of Rs 4,799 crore and a profit after tax of Rs 272 crore for the September quarter.

This marks the Swiggy’s first earnings announcement since its initial public offering (IPO) last month. In Q2FY25, Swiggy’s monthly transacting users (MTU) surged by 1 million, bringing its total user base to 17.1 million. This represents a 7% quarter-on-quarter (QoQ) growth and a significant 19% year-on-year (YoY) increase.

Swiggy Q2 Results: IPO And Other Details!

Swiggy’s shares made a modestly strong debut on the Indian stock market, listing with a slight premium over the initial public offering (IPO) price on November 13, 2024. Swiggy’s shares commenced trading on the Bombay Stock Exchange (BSE) at Rs 412, representing a 5.6% premium over the issue price of Rs 390. Meanwhile, on the National Stock Exchange (NSE), the shares debuted at Rs 420, surpassing the IPO price by Rs 30.

Investors gave a strong response to Swiggy’s Rs 11,327-crore IPO, subscribing to it fully on the final day with bids 3.59 times more than the available shares. The IPO was priced in the range of Rs 371 to Rs 390 per share.