Swiggy’s revenue from operations grew 54% year-on-year to ₹5,561 crore, up from ₹3,601 crore a year earlier. However, total expenses rose nearly 56% to ₹6,711 crore, driven by higher costs in logistics, discounts, and platform expansion.

The Bengaluru-based firm had earlier posted a ₹1,197-crore loss in the June quarter. Despite the widening deficit, Swiggy’s growth in food delivery and its quick commerce arm, Instamart, continued to strengthen its market presence.

On Thursday, Swiggy’s shares closed 0.2% lower at ₹418 on the NSE. Over the past month, the stock slipped 1.17%, while it gained 32% in six months. However, on a year-to-date basis, it remains down 22.93%, reflecting market concerns over profitability.

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