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Food delivery and quick commerce player Swiggy on Tuesday posted a 30% year-on-year (YoY) increase in its operating revenue in Q2 FY25, driven by quick commerce growth. 

The Sriharsha Majety-led company’s operating revenue increased to Rs 3601.4 crore during the July-September 2024 quarter, up from Rs 2763.3 crore earned in the corresponding quarter in the previous year, according to an exchange filing. 

During the same period, Swiggy slightly narrowed its losses to Rs 625.5 crore from Rs 657 crore in the previous year as it expanded on its quick commerce operations leading to improved contribution margins.

Its total expenses also increased by 23% YoY to Rs 4,309.5 crore from Rs 3506.6 crore, mainly driven by a rise in employee benefit expenses, delivery-related charges, and other expenses.

Swiggy Instamart, the company’s quick commerce segment which competes with Blinkit and Zepto, more than doubled its operating revenue to Rs 490 crore from Rs 208 crore in the corresponding quarter last year, however, its losses remained largely stagnant, incurring Rs 317 crore in Q2 FY25. 

Swiggy, which listed on public bourses on November 6, closed the day 0.55% lower at 3:30 pm, ending up at Rs 491 apiece on NSE. However, its stock was trading at Rs 514.68 before the results were announced.

Meanwhile, in the July-September 2024 quarter, Zomato clocked a profit of Rs 176 crore with an operating revenue of Rs 4,799 crore, according to the company’s second-quarter results filed in October this year.