IPO-bound Swiggy trims FY24 loss by 43%, buoyed by food delivery, Instamart

In preparation of a billion-dollar public-market listing, Swiggy trimmed its losses by 43% to ₹2,350 crore in FY24, buoyed by rapid growth in its food delivery and quick commerce vertical Instamart.

The Prosus and Baron Capital-backed company saw its revenue from operations rise 36% to ₹11,247 crore in FY24. Swiggy’s consumer-facing business comprising food delivery, Instamart and dining recorded a total gross order value (GOV) of ₹35,000 crore ($3.5 billion) driven by its 14.3 million monthly transacting users.