Food and grocery delivery platform Swiggy has annouced its financial results for the quarter ended September, 2024. Swiggy has increased its advertising and promotional spending by 13.2% Year-on-Year in Q2 FY2025, reaching Rs 605.3 crore, up from Rs 534.6 crore in the same period last year.
The company reported a 20.96% Quarter-on-Quarter (QoQ) increase, rising by Rs 104.9 crore to Rs 605.3 crore from Rs 500.4 crore in June quarter. Including its e-commerce ventures Instamart and Scootsy Logistics, Swiggy's consolidated ad expenses rose 9% YoY to Rs 537 crore.
The Bengaluru-based company also reduced its losses by 16.81% to Rs 490.8 crore in the September quarter of FY2025, compared to Rs 590 crore in the corresponding quarter of the previous fiscal. The total income increased by 35.51%, rising from Rs 1,699.4 crore in the same quarter last year to Rs 2,302.76 crore for the quarter ended September 2024.
Recently, Swiggy appointed Akanksha Jain as its assistant vice president of PR and communications.
Last month, Swiggy debuted on the Indian stock market, listing at a nearly 8% premium over its issue price of Rs 390. The Rs 11,327crore initial public offering (IPO) was fully subscribed during its three-day window.
In its updated Draft Red Herring Prospectus (DRHP) to market regulator SEBI, Swiggy disclosed plans to allocate Rs 1,115.30 crore from its IPO proceeds to brand marketing, an increase from the previously stated Rs 929.50 crore.
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