SUMMARY
Swiggy’s operating revenue jumped over 40% to INR 8,264.4 Cr in FY23 from INR 5,704.9 Cr in FY22
The foodtech giant’s net loss crossed the INR 4,000 Cr mark in the financial year ended March 31, 2023
The financials come at a time when decacorn is looking to cut down its losses and show improvement in its operating financial metrics ahead of its $1 Bn IPO
Bengaluru-based food delivery giant Swiggy’s net loss crossed the INR 4,000 Cr mark in the financial year ended March 31, 2023. The Invesco-backed decacorn incurred a net loss of INR 4,179.3 Cr in the financial year 2022-23 (FY23), an increase of 15% from INR 3,628.9 Cr in the previous financial year.
Swiggy’s operating revenue jumped over 40% to INR 8,264.4 Cr during the year under review from INR 5,704.9 Cr in FY22 as it scaled up its quick commerce vertical during the year.
Founded in 2014 by Sriharsha Majety, Nandan Reddy, Phani Kishan Addepalli, Rahul Jaimini (left the company…