Swiggy pins hopes on Bolt amid losses

As growth in the food delivery sector slows, Swiggy is placing a high-stakes bet on its 10-minute food delivery service, Bolt, in hopes of revitalising user engagement and addressing growing financial losses. In its January-March quarter earnings, the company reported a 45% year-on-year increase in revenue to Rs 4,410 crore, but also a sharp rise in losses at Rs 1,081 crore.