Swiggy falters under quick commerce strain as losses nearly double in Q1
Instamart saw its revenue grow to ₹806 crore in April–June, up from ₹374 crore a year ago. But its losses also shot up to ₹797 crore, compared to ₹280 crore last year. This steep rise in Instamart’s losses is the main reason why Swiggy’s total loss nearly doubled to ₹1,197 crore.
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