Swiggy Q2 results: Net loss narrows to Rs 625.5 crore in 1st earnings after IPO
2 weeks, 6 days ago

Swiggy Q2 results: Net loss narrows to Rs 625.5 crore in 1st earnings after IPO

India Today  

Food delivery giant Swiggy, which debuted on the stock market in November, reported a consolidated net loss of Rs 625.5 crore for the September quarter, a slight improvement from the Rs 657 crore loss in the same period last year. Swiggy’s gross order value increased by 30% YoY to Rs 11,306 crore, while its platform’s average monthly transacting users rose 19.2% YoY to 17.1 million. Adjusted EBITDA loss reduced by 30% YoY to Rs 341 crore, reflecting steady operational improvements. CEO Sriharsha Majety highlighted Swiggy’s focus on innovation, stating, “We are anticipating and responding to consumer behavior to bring convenience to urban households.” Swiggy’s board approved an investment of Rs 1,600 crore in its logistics arm, Scootsy Logistics, to be funded partially from IPO proceeds.

Crore Yoy Swiggy Gov  rose  results  yoy  qoq  delivery  crore  ipo  net  rs  earnings  narrows  loss  food  q2  swiggy  quarter

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Swiggy share price poised for 20% upside? Axis Capital initiates coverage on stock, highlights competitive position
Trending News
1 week ago

Swiggy share price poised for 20% upside? Axis Capital initiates coverage on stock, highlights competitive position

Live Mint  

Stock Market Today: Shares of Swiggy climbed over 6 per cent on Monday, December 16 after the brokerage house Axis Capital initiated coverage on the new-age stock with a ‘Buy’ rating and a target price of ₹640, citing a 27 per cent valuation discount to peer Zomato as justified. Analysts at Axis Capital view Swiggy as a compelling investment opportunity, …

Swiggy share price hits all-time high today. Here's what drove the rally
1 week ago

Swiggy share price hits all-time high today. Here's what drove the rally

India Today  

Swiggy shares surged to a new record high on December 16 after domestic brokerage Axis Capital initiated coverage on the food delivery and quick-commerce platform with a strong recommendation. BROKERAGE VIEW Axis Capital’s report highlighted Swiggy as a strong investment opportunity, calling it India’s second-largest player in the food delivery and q-com space. RISKS TO WATCH While Axis Capital is …

Swiggy share price jumps 6% as CLSA initiates ‘outperform’ rating on the stock, sees 32% upside
1 week, 6 days ago

Swiggy share price jumps 6% as CLSA initiates ‘outperform’ rating on the stock, sees 32% upside

Live Mint  

Swiggy share price: Global brokerage firm CLSA has become the latest to join the growing list of analysts optimistic about food delivery giant Swiggy. Post CLSA's initiation report, the food delivery to quick commerce stock climbed as much as 5.6 per cent to its day's high of ₹567.80. CLSA's Perspective According to CLSA, Swiggy operates in a massive total addressable …

Swiggy plans fee hike for Instamart, eyes higher take rate from grocery delivery business
2 weeks, 4 days ago

Swiggy plans fee hike for Instamart, eyes higher take rate from grocery delivery business

Live Mint  

E-commerce platform Swiggy is looking to hike its fees for Instamart, its grocery delivery arm, CFO Rahul Bothra told reporters after the company's analyst call on December 3, according to a Financial Express report. Over time there is expectation to increase the delivery fee.” Plans for Instamart Business He did not specify a timeline for when the fee hike could …

Swiggy and Zomato shares hit all-time high today. Can they deliver more returns?
2 weeks, 4 days ago

Swiggy and Zomato shares hit all-time high today. Can they deliver more returns?

India Today  

Shares of online food delivery giants Swiggy and Zomato extended their rally on Thursday, driven by strong buying interest among investors. The rally follows Swiggy’s robust Q2 results, which showcased strong revenue growth and promising developments in its quick commerce and food delivery segments. However, Swiggy faced challenges in market share as its gross order value growth in food delivery …

Can Swiggy’s Instamart spice it up in quick commerce?
2 weeks, 5 days ago

Can Swiggy’s Instamart spice it up in quick commerce?

Live Mint  

For the September quarter, both companies saw about 5% and 24% growth in their respective gross order values of the food delivery and quick-commerce businesses. In Q2FY25, Swiggy’s GOV was ₹10,600 crore against ₹15,800 crore of Zomato in both the main businesses, i.e., food delivery and quick commerce together. Its adjusted Ebitda in Q2FY25 in the two businesses was ₹333 …

Swiggy share price jumps 7% after Q2 results. Should you buy or avoid?
Trending News
2 weeks, 5 days ago

Swiggy share price jumps 7% after Q2 results. Should you buy or avoid?

India Today  

Shares of Swiggy surged nearly 7% on Wednesday to touch Rs 534.85 on the Bombay Stock Exchange after the company announced robust Q2 FY25 earnings, driven by strong performance in food delivery and quick commerce. The food delivery business achieved adjusted EBITDA profitability of Rs 112 crore at a 1.6% margin, with GOV rising 5.6% QoQ to Rs 7,191 crore. …

Swiggy likely to increase delivery charge on Instamart orders: Report
2 weeks, 5 days ago

Swiggy likely to increase delivery charge on Instamart orders: Report

India Today  

Food and grocery delivery platform Swiggy is considering increasing the delivery fees for its quick commerce arm, Instamart, reported moneycontrol.com. Unlike Swiggy, Blinkit does not offer free delivery for any orders, while Zepto waives fees for loyalty program members. Bothra also highlighted additional measures to boost margins, including increasing platform fees for food delivery orders and monetising Instamart through Swiggy …

Swiggy eyes profitability by Q3 of FY26
2 weeks, 5 days ago

Swiggy eyes profitability by Q3 of FY26

New Indian Express  

BENGALURU: Food delivery platform Swiggy at the consolidated group level aims to turn operationally profitable by October-December 2025. Swiggy’s food delivery business is profitable on an adjusted EBITDA basis and it is ramping up margins steadily every quarter. Sriharsha Majety, co-founder, MD & Group CEO, in a letter to shareholders said food delivery business’ GOV grew 5.6% QoQ in Q2FY25. …

Swiggy plans to add over 430 Instamart dark stores by March, eyes contribution break-even next year
2 weeks, 6 days ago

Swiggy plans to add over 430 Instamart dark stores by March, eyes contribution break-even next year

Live Mint  

Newly listed food and grocery delivery firm Swiggy is looking to increase its Instamart dark store count from around 600 to nearly 1,046 by March 2025 as well as increase their average size by 30-35% to keep up with the growing demand for wider assortment in the highly competitive quick commerce sector. Overall, Swiggy expects to more than double its …

Swiggy Q2: Losses Narrow To Rs 626 Crore, Firm Clocks 30 Per Cent Jump In Revenue
2 weeks, 6 days ago

Swiggy Q2: Losses Narrow To Rs 626 Crore, Firm Clocks 30 Per Cent Jump In Revenue

ABP News  

Food and grocery delivery firm Swiggy reported a revenue of Rs 3,601.5 crore in the July-September quarter, logging a gain of 30 per cent from Rs 2,763.3 crore reported in the corresponding period a year earlier. The online delivery company’s loss stood at Rs 626 crore in the second quarter of the current fiscal year 2024-25, narrowing 5 per cent …

Swiggy Q2 Results: Net loss narrows to ₹625.5 crore in first earnings post IPO, revenue up 39% YoY
2 weeks, 6 days ago

Swiggy Q2 Results: Net loss narrows to ₹625.5 crore in first earnings post IPO, revenue up 39% YoY

Live Mint  

Swiggy Q2 Results: Food and grocery delivery platform Swiggy announced its July-September quarter results for fiscal 2024-25 on Tuesday, December 3, reporting a consolidated net loss of ₹625.5 crore driven by robust order growth in both its food delivery and quick commerce segments, compared to a loss of ₹657 crore in the corresponding period last year. Swiggy's revenue from operations …

Explained: Why Swiggy share price gained in early trade today
2 weeks, 6 days ago

Explained: Why Swiggy share price gained in early trade today

India Today  

Shares of Swiggy Ltd gained sharply in early trade on Tuesday as investors are eagerly waiting the release of the company’s second-quarter results. The surge comes amid heightened interest in Swiggy's growth trajectory, with reports suggesting the food and quick-commerce platform has expanded its 10-minute delivery service, Bolt, to over 400 cities. On the technical front, Swiggy’s stock showed resistance …

Betting on Swiggy and Zomato: Can India’s food delivery titans deliver?
1 month ago

Betting on Swiggy and Zomato: Can India’s food delivery titans deliver?

Live Mint  

The Indian food delivery market has become a fierce battleground, with Swiggy and Zomato not only competing for your dinner orders but also commanding attention in boardrooms and on trading floors. Zomato’s recent analyst reports echo this optimism, indicating that while the market remains consolidated, both players have significant room to grow as more Indians adopt food delivery services. View …

Motilal Oswal initiates coverage on Swiggy, sees 16% upside; here’s what the brokerage says
1 month ago

Motilal Oswal initiates coverage on Swiggy, sees 16% upside; here’s what the brokerage says

Live Mint  

Swiggy, the recently-listed food tech company, has garnered significant attention from leading domestic brokerage firms. While Zomato currently holds a leadership position in both food delivery and quick commerce, Swiggy’s user base appears more mature and loyal. “Although Zomato has captured more market share in food delivery, Swiggy’s cohorts demonstrate higher stickiness and better GOV/MTU ratios,” the brokerage stated. Motilal …

These companies post over 45% YoY rise in Q2 profits even as downgrades increase
1 month ago

These companies post over 45% YoY rise in Q2 profits even as downgrades increase

Live Mint  

In its latest earnings review, Motilal Oswal Financial Services observed that earnings performance for the MOFSL Universe was in line with expectations, showing a 1 per cent year-on-year decline. Hindalco: Aditya Birla Group’s Hindalco Industries Ltd reported an impressive 123.3 per cent YoY increase in net profit, reaching ₹1,891 crore for Q2 FY25, driven by robust operational performance in its …

Swiggy vs Zomato: Which food delivery stock should you buy for long-term? Here’s a 5-point analysis
1 month, 1 week ago

Swiggy vs Zomato: Which food delivery stock should you buy for long-term? Here’s a 5-point analysis

Live Mint  

Swiggy vs Zomato: After a decent initial public offering, Softbank-backed food delivery giant Swiggy delivered a powerful stock market debut, beating analysts' estimates. Zomato has established itself as the leading player in India's food delivery industry, capturing a market share of 56 per cent-57 per cent in online food orders in FY24. Here are the five key indicators to compare …

Top News on Nov 14: Market slides for 6th day, Reliance, Disney complete transaction, Q2 results, GRAP 3 In Delhi, more
1 month, 1 week ago

Top News on Nov 14: Market slides for 6th day, Reliance, Disney complete transaction, Q2 results, GRAP 3 In Delhi, more

Live Mint  

From Sensex, Nifty 50 sliding for 6th day to Reliance-Disney completing transaction to imposition of GRAP 3 In Delhi, here are today's top stories. Reliance, Disney complete transaction for $8.5-billion merger deal to create India’s largest media powerhouse Reliance-Disney merger: Mukesh Ambani-led Reliance Industries has completed the merger of its media assets with the India business of global media house …

Swiggy shares slump nearly 6% day after market debut
1 month, 1 week ago

Swiggy shares slump nearly 6% day after market debut

Hindustan Times  

Shares of newly-listed food delivery and quick commerce major Swiggy declined nearly 6 per cent on day two of trading on Thursday. On Wednesday, shares of Swiggy ended with a premium of nearly 17 per cent against the issue price of ₹390. Swiggy's market cap had crossed ₹1 lakh crore on the day of the listing of shares on the …

Swiggy share price above 25% from issue price, hits ₹1 lakh crore market cap. Do you own?
Trending News
1 month, 1 week ago

Swiggy share price above 25% from issue price, hits ₹1 lakh crore market cap. Do you own?

Live Mint  

Swiggy's share price extended its upward momentum on Thursday, November 14, marking the second consecutive day of gains following its listing on Indian stock exchanges. On Thursday, Swiggy shares jumped as much as 7.3% intraday to a fresh high of ₹489.25 apiece on the BSE, with its market capitalisation briefly crossing the ₹1 lakh crore mark. Swiggy shares were listed …

Early investors cheer Swiggy’s listing pop, but analysts are mixed on the stock
1 month, 1 week ago

Early investors cheer Swiggy’s listing pop, but analysts are mixed on the stock

Live Mint  

Food-delivery firm Swiggy’s shares hit the bourses at ₹420 on Wednesday, a 7.7% premium to the issue price of ₹390, making the listing a major liquidity event for its top investors. It said Swiggy has played a major role in India’s food-tech sector, launching the country’s first full-stack offering in 2014, and expanding into quick grocery delivery through dark stores …

Swiggy shares surge nearly 8 pc in market debut
1 month, 1 week ago

Swiggy shares surge nearly 8 pc in market debut

Deccan Chronicle  

New Delhi: Shares of food delivery and quick-commerce major Swiggy listed with a premium of nearly 8 per cent against the issue price of Rs 390 on Wednesday. The stock listed at Rs 412, reflecting a jump of 5.64 per cent from the issue price on the BSE. At the NSE, shares of the firm made the market debut at …

Swiggy IPO listing surged nearly 8% in market debut
1 month, 1 week ago

Swiggy IPO listing surged nearly 8% in market debut

The Hindu  

Shares of food delivery and quick-commerce major Swiggy were listed with a premium of nearly 8% against the issue price of ₹390 on Wednesday, November 13, 2024. The ₹11,327-crore initial public offer of Swiggy was fully subscribed on the final day of the share sale on Friday, ending with 3.59 times subscription. The company's IPO had a fresh issue of …

Swiggy’s IPO to unlock ₹9,000 crore in ESOP wealth for 5,000 employees: Report
1 month, 1 week ago

Swiggy’s IPO to unlock ₹9,000 crore in ESOP wealth for 5,000 employees: Report

Hindustan Times  

The Swiggy IPO will unlock ₹9,000 crore worth of employee stock option plans, turning nearly 500 of its employees into ‘crorepatis’ after its listing on Wednesday, November 13, according to an Economic Times report. However, according to the report, Swiggy's ₹11,300-crore-IPO was the biggest public offering by a technology firm since Paytm's public issue in 2021. According to the report, …

Inside Swiggy's listing gains: 70 dollar millionaires, 500 crorepati employees
1 month, 1 week ago

Inside Swiggy's listing gains: 70 dollar millionaires, 500 crorepati employees

India Today  

Swiggy's IPO not only marks one of the largest listings in recent times for a new-age company but also brings substantial financial rewards for thousands of its employees. As the food delivery and quick commerce giant made its stock market debut on November 13, as many as 70 current and former Swiggy employees stand to become dollar millionaires, reported moneycontrol.com. …

Swiggy shares list at 8% premium over issue price, beating GMP estimates
Trending News
1 month, 1 week ago

Swiggy shares list at 8% premium over issue price, beating GMP estimates

India Today  

Swiggy shares made a decent debut on the stock exchanges, beating grey market estimates as they began trading on the NSE with a 7.69% premium above their IPO price of Rs 390, opening at Rs 420. The grey market premium of Swiggy before the shares got listed was just Rs 1 and suggested a weak debut on the stock market, …

How Swiggy listing turns its hundreds of employees into crorepatis overnight
1 month, 1 week ago

How Swiggy listing turns its hundreds of employees into crorepatis overnight

New Indian Express  

Shares of food delivery giant Swiggy, which debuted on the stock market on Wednesday following a successful IPO, began trading at a 7.7 percent premium over the offer price of Rs 390 per share on their first day. Before this, Flipkart executed a similar initiative, distributing a staggering 1.4-1.5 billion shares to its current and former employees, marking one of …

Swiggy IPO allotment status released: What GMP indicates ahead of listing date
1 month, 1 week ago

Swiggy IPO allotment status released: What GMP indicates ahead of listing date

Hindustan Times  

Shares of food delivery giant Swiggy will be listed on the exchanges on Wednesday, November 13, after its high-profile IPO launch last week. The Swiggy Limited's logo is seen at a press conference during which its Initial Public Offering was announced in Mumbai, India, October 30, 2024 According to the report, its grey market premium is just ₹1, which is …

Swiggy IPO listing: Around 500 employees likely to become crorepatis
1 month, 1 week ago

Swiggy IPO listing: Around 500 employees likely to become crorepatis

India Today  

Swiggy’s much-anticipated IPO may not deliver major listing gains for retail investors, but it promises a significant windfall for employees holding ESOPs. Around 5,000 current and former employees are poised to benefit from an estimated Rs 9,000 crore in wealth creation through stock options, reported The Economic Times. Swiggy’s IPO, set to raise Rs 11,327 crore, has a price band …

India finds Zomato, Swiggy food delivery businesses breached antitrust laws, documents show
1 month, 2 weeks ago

India finds Zomato, Swiggy food delivery businesses breached antitrust laws, documents show

Live Mint  

An investigation by India's antitrust body found food delivery giants Zomato and SoftBank-backed Swiggy breached competition laws, with their business practices favouring select restaurants listed on their platforms, documents show. Exclusivity arrangements between Swiggy, Zomato and their respective restaurant partners "prevent the market from becoming more competitive," the CCI's investigation arm noted in its findings reviewed by Reuters on Friday. …

Swiggy's $1.4 bn IPO fully sold, institutional portion 131% subscribed
1 month, 2 weeks ago

Swiggy's $1.4 bn IPO fully sold, institutional portion 131% subscribed

Firstpost  

Swiggy’s $1.4 billion IPO was fully subscribed on Friday. The portion reserved for institutional investors was subscribed 131 per cent, while the shares earmarked for retail investors were 97 per cent subscribed Food and grocery delivery firm Swiggy’s $1.4 billion initial public offering was fully subscribed on Friday, as institutional investors rushed in with orders on the final day of …

Zomato, Swiggy accused of unfair practices in food delivery market: Report
1 month, 2 weeks ago

Zomato, Swiggy accused of unfair practices in food delivery market: Report

India Today  

An investigation has revealed that leading food delivery platforms Zomato and Swiggy have violated competition laws in India, according to documents from the Competition Commission of India. In Swiggy's IPO documentation, the company acknowledges the CCI case as an "internal risk," noting that "any breach of the provisions of Competition Act, may attract substantial monetary penalties." FOUND GUILTY OF ‘REDUCING …

Swiggy’s IPO draws strong interest but set for muted market debut
1 month, 2 weeks ago

Swiggy’s IPO draws strong interest but set for muted market debut

New Indian Express  

MUMBAI: The initial public offering of Swiggy Limited saw significant demand, with the issue subscribed 3.59 times by the end of its three-day bidding period on Friday. The Rs 11,327.4 crore issue received 57.53 crore subscriptions, against the 16.01 crore shares on offer, according to exchange data. The IPO includes a fresh issue of shares worth Rs 4,499 crore, alongside …

Swiggy IPO: Navigating a competitive landscape. Can it deliver?
1 month, 2 weeks ago

Swiggy IPO: Navigating a competitive landscape. Can it deliver?

Live Mint  

Swiggy, the food-delivery and quick-commerce giant, is poised to make its much-anticipated market debut, aiming to raise ₹11,327 crore through its initial public offering, with shares priced between ₹371 and ₹390 apiece. “Swiggy’s approach of an integrated app offering versus Zomato’s multi-app approach helps it innovate faster," Motilal Oswal said in a report. With a compound annual growth rate of …

Quick commerce hottest category: Swiggy co-founder
1 month, 2 weeks ago

Quick commerce hottest category: Swiggy co-founder

New Indian Express  

BENGALURU: Quick commerce is the hottest category with its fast growth, large TAM, as the category can be $30-$50 billion in four years, supported by strong CAGR, said Swiggy co-founder and group CEO Sriharsha Majety. “Consumer preferences, needs and wants, everything is getting developed and emerging as we go into the next phase of quick commerce,” he said. Launched in …

Swiggy IPO: A $15 Billion Gamble on Food Delivery Giant
1 month, 2 weeks ago

Swiggy IPO: A $15 Billion Gamble on Food Delivery Giant

India Today  

Swiggy is gearing up for its stock market debut with an IPO that is expected to raise over Rs 11,000 crore. The IPO will be open for public subscription from November 6 to 8, with a price band of ₹371 to ₹390 per share. The company plans to use the funds from the IPO for investments in its subsidiary, technology, …

Swiggy's Early Backers Set to Reap Multifold Gains in IPO
1 month, 3 weeks ago

Swiggy's Early Backers Set to Reap Multifold Gains in IPO

Live Mint  

Early backers of Swiggy are set to reap significant gains on their investments as the food delivery and quick-commerce platform goes public in early November. The price band for Swiggy has been fixed in the range of ₹371-390 per equity share with a face value of ₹1. The company plans to use the bulk of the proceeds (about ₹1,178.7 crore) …

Swiggy Eyes $15 Billion Valuation For IPO, Aiming To Raise $1.2 Billion: Report
4 months ago

Swiggy Eyes $15 Billion Valuation For IPO, Aiming To Raise $1.2 Billion: Report

ABP News  

Swiggy IPO: Indian food delivery giant Swiggy, backed by SoftBank, is gearing up for a major initial public offering, targeting a valuation of approximately $15 billion, sources privy to the matter told news agency Reuters. Zomato, Swiggy's main competitor, has seen its shares more than double since going public in 2021, with a market valuation now reaching $28 billion. According …

Zomato Q1 Result: Food Delivery Platform's Net Profit Surges To Rs 253 Crore
4 months, 3 weeks ago

Zomato Q1 Result: Food Delivery Platform's Net Profit Surges To Rs 253 Crore

ABP News  

Zomato Q1 Result: Food delivery platform Zomato announced a beyond-expected rise in quarterly profit, driven by robust demand for its food and grocery delivery services. On Thursday, the company reported a consolidated net profit surged to Rs 253 crore for the April-June quarter of the fiscal year 2024-25, up from Rs 2 crore in the same period last year. The …

Swiggy Looks At Pre-IPO Deal
8 months, 1 week ago

Swiggy Looks At Pre-IPO Deal

Deccan Chronicle  

Chennai: Food delivery service provider Swiggy is planning to go for a pre-IPO deal of offering shares to high net-worth individuals at 20 per cent discount. Ahead of the IPO slated to be held after the general elections, Swiggy is pitching for a pre-IPO deal to high net-worth individuals to buy its shares at 20 per cent discount on its …

Swiggy converts to public limited company ahead of IPO: What we know
8 months, 2 weeks ago

Swiggy converts to public limited company ahead of IPO: What we know

Hindustan Times  

Swiggy IPO: Swiggy converted itself into a public limited company from a private limited company ahead of an expected stock market listing later this year, as per documents submitted by the firm with the Registrar of Companies. Swiggy IPO: Swiggy is expected to file a draft red herring prospectus in the next few months as it plans for a $1 …

Swiggy reveals Mumbai customer ordered food worth ₹42.3 lakh
1 year ago

Swiggy reveals Mumbai customer ordered food worth ₹42.3 lakh

Hindustan Times  

As 2023 draws to a close, various brands such as Spotify, YouTube, Google and more are sharing their annual 'wrap' reports and top trending searches on them. Swiggy shared that another person from Hyderabad ordered ₹ 6 lakh worth of idlis. One of the most surprising things revealed in this report was that a customer from Mumbai ordered food worth …

GST notice of ₹400 crore sent to Zomato, ₹350 crore to Swiggy: Report
1 year, 1 month ago

GST notice of ₹400 crore sent to Zomato, ₹350 crore to Swiggy: Report

Live Mint  

Zomato and Swiggy, the country's top two food delivery aggregators, have reportedly come under the scrutiny of tax authorities, with notices of a combined value of ₹750 crore sent to them, a report said on November 22. Zomato, which has the biggest share in India's online food delivery market, has been issued a Goods and Services Tax notice of ₹400 …

Zomato Q2 Result: Net profit at ₹36 crore, revenue rises 72%, stock surges 7%
1 year, 1 month ago

Zomato Q2 Result: Net profit at ₹36 crore, revenue rises 72%, stock surges 7%

Hindustan Times  

Online food delivery platform Zomato on Friday reported a consolidated profit after tax of ₹36 crore for the second quarter ended September 2023, driven by strong revenue growth. Food delivery company Zomato as seen on its app The company had reported a loss of ₹251 crore for the corresponding quarter of the previous financial year. The company also announced that …

Stocks to Watch: Axis Bank, TechM, TCS, IRM Energy, Jubilant Foodworks
1 year, 1 month ago

Stocks to Watch: Axis Bank, TechM, TCS, IRM Energy, Jubilant Foodworks

Live Mint  

Here are the top stocks that could be in focus in today's trade: Axis Bank: Axis Bank Ltd on Wednesday reported a net profit of ₹5,863 crore in the second quarter of FY24 registering a 10% growth from ₹5,329.8 crore in the corresponding quarter of last year. Jubilant Foodworks: Jubilant Foodworks Ltd on Wednesday reported a 26.1% decline in its …

Persistent Systems Q2 Results: Revenue up 18% YoY on robust order bookings
1 year, 2 months ago

Persistent Systems Q2 Results: Revenue up 18% YoY on robust order bookings

Live Mint  

Persistent Systems on Wednesday, October 18 reported a 17.7 per cent year-on-year growth in Q2FY24 consolidated revenue at ₹2,411.7 crore, helped by robust order bookings. while in the US dollar terms, the company's revenue grew 14.1 per cent YoY and 3.1 per cent quarter-on-quarter. Persistent's Q2 profit after tax grew 19.7 per cent YoY to ₹263.27 crore against ₹220 crore …

Swiggy starts charging Rs 2 per food order from users to earn money, improve performance
1 year, 7 months ago

Swiggy starts charging Rs 2 per food order from users to earn money, improve performance

India Today  

Swiggy, a food delivery giant, has begun charging all users a nominal “platform fee” of Rs 2 per order. Swiggy's CEO and co-founder, Sriharsha Majety, attributed the platform fee introduction to the slowdown in the delivery business, which has impacted the company's growth rate. Analysts suggest that while the platform fee may seem small, it could generate a significant corpus …

Swiggy lays off over 6% staff to tame costs
1 year, 11 months ago

Swiggy lays off over 6% staff to tame costs

Live Mint  

Food and grocery delivery aggregator Swiggy has laid off 380 employees or nearly 6% of its 6,000-strong staff, becoming the latest to join the flurry of layoffs in India’s startup ecosystem. The delivery platform’s co-founder and chief executive, Sriharsha Majety cited macroeconomic headwinds and a shrinking growth of food delivery businesses as the reason behind the layoffs. “While our cash …

Swiggy to lay off hundreds of employees. CEO says ‘two things happened in 2022’
1 year, 11 months ago

Swiggy to lay off hundreds of employees. CEO says ‘two things happened in 2022’

Live Mint  

Indian food delivery firm Swiggy on Friday said it will lay off 380 employees out of its 6,000 strong work force, citing challenging macroeconomic conditions and slowdown in growth of its food delivery business. Our overhiring is a case of poor judgement, and I should’ve done better here.” The CEO said in 2022, two things happened. While we’d already initiated …

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