(Bloomberg) -- Food delivery platform Swiggy Ltd. posted a smaller quarterly loss and said it expects to become profitable by the final three months of 2025.
Net loss for the July-September period narrowed about 5% from a year earlier to 6.26 billion rupees ($73.9 million), according to a filing Tuesday. Revenue rose 30% to 36 billion rupees.
The firm, whose listing last month has so far handed IPO investors a 29% return, saw losses from quick commerce negate profits from food delivery.
Still, the company expects to become profitable at the consolidated group level in the December quarter next year, and said it will make strategic investments to drive profitability in rapid commerce business Instamart, according to the filing.
It plans to double the store count and the area of its dark stores by March. Instamart is expected to reach operating profit break-even in July-Sept. 2026. It competes with Zomato Ltd.’s Blinkit, which turned profitable in the three months ended March.
Swiggy shares rallied as much as 9.8% ahead of the results on Tuesday before paring gains to 1.7% at close.
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