Swiggy's Q3 loss widens to ₹799 crore amid rising competition from Zomato

India's Swiggy reported a wider quarterly loss on Wednesday, as the online platform poured money into its grocery delivery business to compete with rivals Zomato and Zepto. The company reported a consolidated loss of 7.99 billion rupees ($91.40 million) for the third quarter ended Dec. 31, compared to a loss of 5.74 billion rupees a year earlier.

Companies like Swiggy and Zomato are doubling down on their quick commerce push, which aim to deliver a wide variety of goods in 10 minutes or less, by opening more warehouses from which to fulfil such orders. Zomato, which owns quick commerce platform Blinkit, plans to double its warehouse count to 2,000 by the end of 2025, while Swiggy has previously said it plans to close the financial year with twice as many fulfilment centers as a year ago.