Swiggy's revenue surged 36% to Rs 11,247 crore in FY24, up from Rs 8,265 crore in FY23, according to its annual report. This growth comes as the company reduced its losses by 44%, from Rs 4,179 crore to Rs 2,350 crore.
Swiggy achieved these improvements by cutting expenses, including reducing its marketing spend from Rs 2,501 crore to Rs 1,851 crore. Despite this progress, Swiggy's revenue still trails behind Zomato, which reported a revenue of Rs 12,114 crore and a profit of Rs 351 crore for the same period.