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The Times of India

Business

IANS

Swiggy's losses jump 2X to Rs 3,629 crore in FY22, layoffs coming

Swiggy Invesco Jefferies New Delhi Zomato

NEW DELHI: Online food delivery platform Swiggy's losses doubled to Rs 3,629 crore in FY22 compared to Rs 1,617 crore in the last fiscal year.

Total expenses went up 131 per cent to Rs 9,574.5 crore in FY22. According to its annual financial statement with the Registrar of Companies (RoC), during the last quarter of FY22, Swiggy turned "decacorn" (with a valuation of $10 billion and above) after raising a $700 million round led by Invesco.

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