Consolidated revenue from operations increased from Rs 5,561 crore in the corresponding quarter last year, while total income rose to Rs 7,783 crore from Rs 5,620 crore.
Gross order value, or GOV, in the food delivery business grew 17.7 per cent year-on-year to Rs 10,054 crore. Adjusted earnings before interest, taxes, depreciation and amortisation, or EBITDA, increased by Rs 101 crore to Rs 341 crore, with the adjusted EBITDA margin at 3.4 per cent of GOV.
Swiggy's out-of-home consumption business recorded 34.9 per cent year-on-year growth in GOV to Rs 1,508 crore. It posted its seventh consecutive quarter of profitability, with an adjusted EBITDA margin of 0.5 per cent of GOV.
Instamart's net order value grew 31.4 per cent year-on-year and 13.4 per cent sequentially to Rs 6,954 crore. The quick-commerce platform added 69 dark stores during the quarter, taking its network to 1,240 stores.
Instamart's contribution margin stood at minus 1 per cent of GOV, improving by 157 basis points year-on-year but declining by 82 basis points sequentially. The business reported a loss of Rs 895 crore for the quarter, while its adjusted EBITDA margin improved marginally to minus 9.7 per cent from minus 9.8 per cent in the previous quarter.
Swiggy's quarterly loss narrowed as revenue rose and its food delivery and out-of-home businesses strengthened profitability, even as higher expenses and Instamart's losses continued to weigh on its consolidated performance.
Shares of Swiggy settled at Rs 211.30 on Thursday, falling more than 5 per cent for the day. The total market capitalization of the company stood at Rs 58,325 crore.
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