Rs 8,265 crore revenue posted by Swiggy in FY23 amid overall loss of Rs 27,000 crore

Overall, the company’s total expenditure has risen to 34.6% to Rs 12,884 crore in FY23 from Rs 9,574 crore during the previous year.

Rs 8,265 crore revenue posted by Swiggy in FY23 amid overall loss of Rs 27,000 crore

Food delivery partner and e-commerce giant Swiggy has announced its quarterly results which have witnessed around 50% of its revenue via platform services followed by the sale of grocery products, accounting for around 40% of revenue generation.

The company’s revenue from operations [gross revenue] has surged by 45% approx Rs 8,264.6 crore during the last fiscal year, compared to Rs 5,705 crore in FY22 as per the company’s annual financial statement. The contributing revenue generation is followed through its online platform services including order facilitation fees, delivery income, advertisement revenue, and subscription fees along with the sale of food and traded goods.

 

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The company has also made Rs 372.5 crore through the sale of supply chain services during FY23 and earned Rs 450 crore from interest and gains on financial assets which accounted for the overall revenue of Rs 8,714.5 crore in FY23. Overall, the company’s total expenditure has risen to 34.6% to Rs 12,884 crore in FY23 from Rs 9,574 crore during the previous year.

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The cash outflows from operations for the company stood at Rs 4,060 crore during FY23. Meanwhile, the losses of the company increased by 15.2% to Rs 4,179 crore during FY23, compared to Rs 3,629 crore in FY22. The outstanding losses for the company currently stood at Rs 27,057 crore in FY23. The purchase of stock cost has surged 49% to Rs 3,381 crore in FY23 from Rs 2,268 crore during the previous year.

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