Team Blitz India
NEW DELHI: Swiggy saw a 45 per cent jump in revenue, reaching Rs 8,625 crore in FY23. In the previous financial year, Swiggy’s revenue stood at Rs 5,705 crore, with a net loss of Rs 3,629 crore.
Purchases of stock in trade were the largest expense for Swiggy in FY23, rising by 48 per cent to Rs 3,302 crore.
Additionally, the cost of employee benefits climbed by 25 per cent to Rs 2,130 crore.
Swiggy’s restaurant technology platform, Dineout, contributed Rs 77.5 crore to the revenue and incurred an operating loss of Rs 176 crore during the financial year. Swiggy acquired Dineout in 2022 in a transaction reportedly valued at around $150 million.
Zomato saw its gross revenue jump by 68.9 per cent to Rs 7,079 crore in FY23, compared to Rs 4,192 crore in FY22, according to the company’s consolidated financial statements reviewed by Entrackr..
