Swiggy Q3 results: Ad spends rise 65.3% YoY to Rs 751.5 crore

Swiggy reported a sharp increase in its advertising and sales promotion expenditure for the quarter ended December 31, 2024, reaching Rs. 751.5 crore, marking a 65.3% year-on-year (YoY) surge from Rs. 454.5 crore in the same quarter last year. The ad spend also registered a 39.9% sequential rise from Rs. 537.1 crore in Q2.

Despite the elevated advertising expenses, Swiggy’s revenue from operations grew significantly, posting a 30.9% YoY increase to Rs. 39,930.7 crore for the quarter ended December 31, 2024, compared to Rs. 30,486.9 crore in Q3 FY24. Quarter-on-quarter, revenue saw a 10.9% uptick from Rs. 36,014.5 crore in Q2 FY25.

However, the company continued to report losses, with a consolidated net loss of Rs 7,990.8 crore in Q3 FY25, widening from Rs 5,743.8 crore in the same period last year and Rs 6,255.3 crore in the previous quarter.

Despite the losses, Swiggy remains focused on expanding its quick commerce and supply chain businesses. The quick commerce segment, including Instamart, continues to be a key growth driver for the company.

Sriharsha Majety, MD and Group CEO, Swiggy said in a prepared statement, "The secular expansion in Food delivery margins and cash flow generation is balanced by growth investments being made in Quick-commerce including dark stores expansion and marketing, amidst high competitive intensity in the near-term”.