Swiggy’s loss widens 39 pc to Rs 799 crore in Q3
Zomato's rival Swiggy on Wednesday reported a Rs 799.08 crore net loss in the October-December period (Q3 FY25), as compared to a loss of Rs 625.53 crore in the previous quarter.
After temporarily discontinuing its hyperlocal courier service Swiggy Genie, Bengaluru-based food aggregator giant Swiggy has now suspended operations of its subscription-based commerce platform Supr Daily.
The startup informed its customers that it will be suspending its operation from May 12 in five cities, including the Delhi-NCR region.
Supr Daily, is a subscription-based delivery service for milk, daily essentials and groceries, was founded by IIT Bombay graduates Shreyas Nagdawane and Puneet Kumar in 2015 and was acquired by Swiggy in 2018. It rejigged the leadership for Supr Daily in September last year in a bid to unlock value and accelerate growth. Phani Kishan, who was elevated to co-founder was given charge as the CEO of Supr Daily. The support functions of HR, Admin, Legal, IT and Finance from Supr were integrated into the relevant functions with Swiggy, while it continued to have dedicated business teams.
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This move will impact employees operating in the five cities – Delhi-NCR, Mumbai, Pune, Hyderabad and Chennai — as well as some corporate employees. Also, Swiggy has halted the pick-and-drop service, Genie, in multiple cities due to a surge in demand.
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