Swiggy's ad spend soars 65.3% YoY to Rs. 751.5 crore

For the quarter ending December 31, 2024, Swiggy reported a significant increase in its advertising and sales promotion spending, which surged by 65.3% year-on-year to Rs. 751.5 crore. This is up from Rs. 454.5 crore in the same quarter the previous year. Sequentially, the ad spend also saw a 39.9% rise, compared to Rs. 537.1 crores in the previous quarter.

Swiggy’s revenue from operations saw a significant boost, growing by 30.9% year-on-year, reaching Rs. 39,930.7 crore for the quarter ending December 31, 2024. This compares to Rs. 30,486.9 crore in the same quarter last year. On a quarter-to-quarter basis, the revenue increased by 10.9%, up from Rs. 36,014.5 crore in Q2 FY25.

However, the company continued to face losses, reporting a consolidated net loss of Rs. 7,990.8 crore for Q3 FY25. This marks a widening of losses compared to Rs. 5,743.8 crore in the same period last year and Rs. 6,255.3 crore in the previous quarter.

In a press statement, Sriharsha Majety, MD and Group CEO of Swiggy commented on the results, stating, "The consistent expansion in food delivery margins and cash flow generation is balanced by the growth investments being made in quick-commerce, including the expansion of dark stores and marketing, especially given the high competitive intensity in the near term."