Swiggy cuts its losses, but the bill is still ₹922 crore

What happened: Swiggy reported a narrower year-on-year loss for the September quarter, with revenue from operations rising 36% YoY. Key numbers: Loss narrowed YoY to Rs 922 crore. Revenue from operations Rs 7,571 crore, up 36% YoY. Adjusted EBITDA loss widened to Rs 760 crore from Rs 695 crore. Why it matters: Management expects another quarter of double-digit sequential growth in Instamart's net order value in the December quarter and projects an improvement in operating margins, citing higher customer retention, targeted pricing and assortment expansion.

Swiggy reported a narrower year-on-year loss for the September quarter, with revenue from operations rising 36% YoY.

Management expects another quarter of double-digit sequential growth in Instamart's net order value in the December quarter and projects an improvement in operating margins, citing higher customer retention, targeted pricing and assortment expansion.