Swiggy’s net losses take a jump by 61% to ₹3,768 crores in the financial year ending March 2020. One of the major reasons for the same is that it remained in a tough battle with its competitor Zomato.
As per the regulatory filing by company database platform Tofler, swiggy’s revenue shot up by 125% to ₹2,515 crores during the year.
The food delivery firm’s total expenses grew by nearly 80% to ₹6544 crores. the increase in its expenses was majorly due to staff expense, marketing costs, and other miscellaneous expenses.
Swiggy has 6 revenue systems through which it makes money by its app. Activities like banner ads by restaurants, commission on orders placed, cloud kitchens, delivery charges, swiggy super, and affiliate marketing with financial organizations generate swiggy’s revenue.
