The foodtech major’s revenue grew 36% YoY to INR 11,247 Cr in FY24, while loss narrowed 44% to INR 2,350 Cr
Promotional and marketing costs declined to INR 1,851 Cr in FY24 from INR 2,501 Cr in FY23
Swiggy filed its draft IPO papers via the confidential route with the Securities and Exchange Board of India (SEBI) earlier this year
Foodtech major Swiggy
reportedly saw its revenue grow 36% to INR 11,247 Cr in the fiscal year 2023-24 (FY24) from INR 8,265 Cr in the previous year.
The disclosure was made by the IPO-bound company in its annual report, Moneycontrol reported.
Meanwhile, Swiggy also slashed its net loss by 44% to INR 2,350 Cr during the year under review from INR 4,179 Cr in FY23.
As per the report, the company managed to reduce its loss by trimming its advertising spending. Promotional and marketing costs reportedly declined to INR 1,851 Cr in FY24 from INR 2,501 Cr in FY23.
The numbers come as Swiggy is planning to list on the bourses later this year. It filed its draft IPO papers via the confidential route with the Securities and Exchange Board of India (SEBI) earlier this year.
(This story will be updated soon)
