Swiggy slashes annual losses by 30%; gross order value grows in Q1

BENGALURU: Food and grocery delivery platform Swiggy narrowed its adjusted EBITDA losses by 30% to $182 million in the 2024 calendar year from $261 million in the previous year, according to Dutch tech investor Prosus.

In its financial update, Prosus mentioned that Swiggy in Q1 25, delivered GOV (gross order value) growth of 40% y-o-y and quick commerce GOV growth of 101% y-o-y with 316 new dark stores added in the first quarter of this year.