Food tech and grocery delivery company Swiggy reported a revenue of $750 million (around Rs 6,300 crore) in the first half of financial year 2025 (H1FY25), up 40 percent from $536 million (about Rs 4,500 crore) recorded during the same period last year, Prosus, one of the company’s largest shareholders, said in its half yearly disclosures.
During the same time, its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) improved 41 percent from -$145 million (Rs 1,218 crore) to -$85 million (Rs 714 crore), filings showed.
Swiggy went public last month in a $1.35 billion IPO, one of the largest for a new-age company in India. Prosus held a 33 percent stake in the company and reduced its shareholding to a touch above 24 percent but below the regulatory limit of 25 percent at the time of listing, to avoid being tagged as a promoter.
By diluting a part of its stake, or by selling shares worth $500 million, Prosus made gains of over $2 billion just from betting on Swiggy. It still continues to hold a sizable part of the company. In all, Prosus has invested a total of $1.3 billion in Swiggy.
Swiggy will officially declare its results on December 3, as per regulatory requirements.
“With Swiggy’s recent IPO, and by actively managing our portfolio through equity stake sales, we’ve highlighted significant pools of value and we’re confident there’s even more ahead. With our strong and liquid balance sheet, we plan to grow and leverage our ecosystem, with an eye on the next wave of opportunity,” said Ervin Tu, President and CIO, Prosus and Naspers.
Swiggy’s old rival Zomato, in comparison, had total revenues of Rs 9,462 crore (around $1.12 billion) during the same period. It was also profitable on a post tax basis (PAT) at Rs 429 crore during the same period.
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