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Shares of food delivery major Swiggy fell as much as 7% on May 11, heading for their worst session in more than a month.
Swiggy's Instamart gross order value grew 68.8%, well below Blinkit's 95.4% growth rate.
KEY POINTS
- Swiggy halved the share of unprofitable low average order value consumers in recent months.
- Despite improved margins, investor concerns persist around Swiggy's quick-commerce strategy and market share loss.
- Swiggy reported a consolidated Q4 loss of Rs 800 crore, down from Rs 1,065 crore the previous quarter.
- Gross order value for Swiggy's food delivery rose 23% to Rs 9,005 crore, surpassing Rs 1,000 crore EBITDA.
COMPANIES
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