Swiggy revenue trebles, but loss doubles too in 2017-183 min read . Updated: 29 Oct 2018, 07:19 AM IST
Swiggy's loss nearly doubled to 397 crore in 2017-18 from 205 crore a year earlier on revenue of 468 crore that rose three-fold from 146 crore over the same time
Bengaluru: India’s largest online food ordering and delivery service, Swiggy, clocked a more than three-fold rise in revenue in 2017-18 even as losses rose sharply. The company, which is currently in talks to raise funds, posted a revenue of ₹ 468 crore in the year ended 31 March, compared with ₹ 146 crore in the previous year, showed regulatory documents from business intelligence platform Tofler. In the same period, losses nearly doubled to ₹ 397 crore, from ₹ 205 crore in the previous year, as the startup spent heavily to keep its lead over rivals such as Zomato and Uber Eats.