Prosus confirms SWIGGY’s food delivery revenue increased by more than 50% last quarter.
- ByStartupStory | November 23, 2021
Swiggy’s revenue from food delivery grew by 56% year on year in the April-September period, and up 91% from pre-Covid-19 levels (May 2020), its investor Prosus said in a regulatory filing.
Believed to be because of higher demand growth in the second wave of the pandemic, and the development of grocery applications such as Supr Daily and Instamart.
Prosus mentioned, Swiggy’s focus on recovery “by reactivating users, increasing monthly frequency, and returning user conversion to pre-Covid-19 levels,” spurred the growth
Previously, Swiggy was doing 1.59 million orders per day, and its gross merchandise value (value of food and non-food orders) in the period was up 69% year on year to $984 million on the back of higher average order values compared to pre-pandemic levels and higher revenues from delivery fees and advertising sales.
While the report for the main competitor, Zomato is yet to be unveiled, the company said in July that it earned 75% of its revenue from food delivery.
Zomato’s adjusted revenue — a combination of revenue from operations and customer delivery charges — between April and September stood at Rs 2,580 crore, a 178.2% growth year on year, according to its second-quarter earnings report filed earlier this month.
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