BENGALURU: Food and grocery delivery platform Swiggy narrowed its adjusted EBITDA losses by 30% to $182 million in the 2024 calendar year from $261 million in the previous year, according to Dutch tech investor Prosus.
In its financial update, Prosus mentioned that Swiggy in Q1 25, delivered GOV (gross order value) growth of 40% y-o-y and quick commerce GOV growth of 101% y-o-y with 316 new dark stores added in the first quarter of this year.
Also, Prosus' Indian portfolio companies Swiggy and PayU India's IRR (internal rate of return) stood at 23% and 13% in FY25. Meesho's IRR stood at 20%.
Nico Marais, Prosus CFO, said in a statement that FY2025 marks the first year that Prosus is free cash flow positive, excluding the Tencent dividend, with a free cash flow improvement of $513 million.
Fabricio Bloisi, Prosus CEO, said “Prosus is rapidly transforming into an operating technology company, focused on lifestyle e-commerce."
He said, “We are now building the number one lifestyle e-commerce company in Latin America, in India and in Europe. And we are doing that because we are sure that by focusing on a few ecosystems, in a few regions, we can make sure that the synergies generate a lot of value to our company in terms of cross-sell, in terms of sharing best practices.”
Swiggy posted a net loss of Rs 1,081 crore for the quarter that ended in March 2025 compared to the loss of Rs 555 crore it reported in the year-ago period. Its total income rose by 44% y-o-y to Rs 4,531 crore as against Rs 3,143 crore in the same quarter last year.
The platform's GOV rose about 40% y-o-y to Rs 12,888 crore and consolidated adjusted EBITDA loss increased to Rs 732 crore due to significant growth investments in quick commerce.