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Oct, 29 2018

Swiggy FY18 revenues surge 232% to Rs 442 crore

The company saw its top-line surge in FY18 as it expanded its geographic footprint across India.

Swiggy, a Bengaluru-based food delivery app, has recorded a 232% jump in its revenues. The company has earned operational revenues of Rs 442 crore. Last year, it earned Rs 133 crore.

The company saw its top-line surge in FY18 as it expanded its geographic footprint across India. It expanded its operations from seven cities in March 2017 to 12 by March 2018.

The losses of the online food ordering and delivery platform for the same period doubled to Rs 397 crore from Rs 205 crore in FY17. 

A spokesperson for Swiggy said, "In FY18, we remained focused on delivering exceptional value to our users while making significant investments for the future and improving our operational efficiencies as we start hitting the scale. This has resulted in the operating revenue increase outpacing the cost increase, further strengthening our leadership position as India's largest food ordering and delivery platform. We will continue to double down on this growth as we expand to more cities and experiment with innovative ways to bring more convenience to the lives of consumers."

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