Swiggy reports Rs 4,179 crore net loss, 45% revenue increase in FY23.

Swiggy, the online food delivery platform, reported a 45% jump in revenues during the financial year ended March 31, 2023, reaching 8,264 crore. However, the company's net losses also expanded, reaching 4,179 crore, a 15% increase from the previous fiscal year. The Invesco-backed firm, preparing for an IPO, significantly increased expenses during FY23, particularly on scaling up its quick commerce vertical, Instamart, reaching a total expense of 12,884 crore for the year, a 34% increase over FY22.

January 30, 2024
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