Online food delivery platform Swiggy has suffered a loss (consolidated net loss) of Rs 626 crore in the second quarter of FY 2024-25. In the same quarter last year, the company had a loss of Rs 657 crore. The company’s loss has reduced by 4.72% on an annual basis. Revenue grew 30.33% to Rs 3601 crore in the July-September quarter. In July-September 2023-24, the company generated a revenue of Rs 2763 crore. The income from selling goods and services is called revenue. Swiggy was listed on the stock market on November 13, since then its stock has increased by 14.18%. Swiggy’s revenue grew by 36% in FY 2024. Swiggy’s financial condition also improved in FY 2024. Swiggy’s revenue grew 36% to Rs 11,247 crore in FY2024 from Rs 8,265 crore in the previous financial year. At the same time, the company also reduced its loss by 44% during this period and stood at Rs 2,350 crore in FY 2024 from Rs 4,179 crore in the previous year. The company has been able to reduce its losses by controlling its costs. Although Swiggy’s performance is less than Zomato, it has still reduced the gap with its rival in FY24. Zomato recorded a revenue of Rs 12,114 crore in FY 2024, while Swiggy’s revenue stood at Rs 11,247 crore. Similarly, Zomato made a profit of Rs 351 crore, while Swiggy’s loss was Rs 2,350 crore. ——————————– Read this news too.. Swiggy share listed at ? 420, up 7.69%: 500 employees become crorepatis; ACME Solar Holdings share listed at ? 251, down 13.15%. Shares of Swiggy Limited and ACME Solar Holdings Limited have been listed on the stock exchange today (13 November). Swiggy share got listed on NSE at ? 420, 7.69% above the issue price. It got listed on BSE at ? 412, up 5.64% from the issue price. Its issue price was ? 390 per share. After the day’s trading, the share closed at ? 455.95, up 16.91% from the issue price. Whereas, ACME Solar Holdings share got listed on NSE at ? 251, down 13.15% from the issue price. The stock was listed on BSE at ?259, 10.38% below the issue price. The issue price of ACME Solar Holdings’ initial public offer was ?289 per share. After the day’s trading, it closed at 253.50, down 12.28% from the issue price. Click here to read the full news… Food delivery company Zomato’s profit increased by 388%: from 36 crores to Rs 176 crore, revenue increased by 68% in July-September quarter Food delivery company Zomato’s profit in the July-September quarter has increased by 388% year-on-year to Rs 176 crore. The company’s consolidated net profit was Rs 36 crore in the same quarter a year ago. Zomato released the results for the second quarter of FY 2024-25 on Tuesday, 22 October. The company’s revenue in the second quarter grew by 68.50% to Rs 4,799 crore. The revenue in the same quarter a year ago was Rs 2,848 crore. Click here to read the full news…
