Business

Swiggy Reports 39% Increase in Losses, Reaching Rs 799 Crore in Q3

Published

1 year ago

February 6, 2025

On Wednesday, Swiggy, a competitor of Zomato, reported a net loss of ₹799.08 crore for the October-December period (Q3 FY25). This marks an increase from the ₹625.53 crore loss reported in the previous quarter. Year-over-year, Swiggy’s net loss has widened by 39%, up from a ₹574 crore loss in the same quarter last year.

The company’s operating loss, which excludes interest, tax, depreciation, and amortization, reached ₹725.66 crore, rising from ₹554.17 crore in the September quarter (Q2).

Despite the losses, Swiggy’s revenue rose by 10.9% from the previous quarter, amounting to ₹3,993.07 crore, as stated in their stock exchange filing. This growth was largely driven by the food delivery segment, which generated ₹1,636.88 crore. Additionally, Swiggy Instamart, the company’s quick commerce division, reported a 17.7% sequential increase in revenue, reaching ₹576.5 crore.

“While we are experiencing consistent growth in food delivery margins and cash flow, we are also investing heavily in Quick-commerce, including expanding dark stores and enhancing marketing efforts, particularly in a highly competitive environment,” stated Sriharsha Majety, MD and Group CEO of Swiggy.

Prior to the release of Q3 results, Swiggy’s shares dropped 3.69% to ₹418.05 on the NSE. Since its listing in November, the stock price has decreased by 8.32%.

Swiggy’s gross order value (GOV) surged by 38% to ₹12,165 crore, and its consolidated adjusted EBITDA loss decreased by approximately 2% year-on-year to ₹490 crore. However, on a quarterly basis, the EBITDA loss rose slightly to ₹149 crore, according to its filings.

In comparison, Zomato reported a 57% decline in profits year-on-year, with earnings of ₹59 crore in Q3.

Business

Opendoor Shuts Down India Operations, 250 Employees Affected

Published

1 day ago

June 11, 2026

Namma Kudla

Business: US-based real estate technology company Opendoor has decided to close its operations in India. The move will impact nearly 250 employees.

CEO Kaz Nejatian said the company is bringing operational roles closer to its customers in the United States. He explained that most of Opendoor’s customers are based in America.

The company said the decision is not related to the performance of its India team. Nejatian praised the employees for their hard work and contributions.

Affected workers will receive severance pay, job placement support, and other assistance. A small number of employees will stay temporarily to help with the transition.

Opendoor said it will continue focusing on simplifying operations and improving efficiency with new technology and AI.

Business

Domestic LPG Cylinder Price Increased by Rs 29

Published

5 days ago

June 7, 2026

Namma Kudla

New Delhi: The price of domestic LPG cooking gas cylinders has been increased by Rs 29 across India. This is the second price hike in the last three months.

The increase comes as global energy prices continue to rise due to the ongoing conflict in the Middle East.

After the revision, a domestic LPG cylinder now costs Rs 942 in Delhi, Rs 941.40 in Mumbai, Rs 968 in Kolkata, and Rs 957.50 in Chennai. In Bengaluru, the new price is Rs 944.50 per cylinder.

The government said the cost of supplying LPG has increased significantly. However, subsidies under the Pradhan Mantri Ujjwala Yojana continue to help over 10 crore beneficiaries.

Petrol, diesel, and CNG prices have also increased in recent weeks as global fuel markets remain volatile.

Business

Honda Begins Delivery of 2026 City Hybrid

Published

1 week ago

June 3, 2026

Namma Kudla

Business: Honda Cars India has started delivering the new 2026 Honda City Hybrid to customers. The first car was handed over at a dealership in Bengaluru.

Honda President and CEO Takashi Nakajima attended the special delivery event. Other senior company officials were also present.

The first customer received a Crystal Black Pearl Honda City Hybrid. The car was delivered with a symbolic key and a gift hamper.

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The updated City comes with new features such as ventilated front seats and a 360-degree camera. It also offers wireless Apple CarPlay, Android Auto, and a sunroof.

The sedan is available with petrol and strong-hybrid powertrain options. Honda claims the hybrid version delivers a mileage of 27.26 kmpl.

The Honda City competes with the Volkswagen Virtus, Skoda Slavia, and Hyundai Verna in India.