Mumbai28 minutes ago
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Food delivery platform Swiggy has launched ‘Scenes’ service under its out-of-home vertical, Dineout. With this you will be able to book tickets for upcoming events. After its recent listing in the stock market, Swiggy has started this service to promote event and ticketing business.
Swiggy has added this service in the dine-out section of its native app itself. Events like Christmas, New Year Party, Live Music and DJ Nights are currently listed and tickets are being sold through Scenes in the Dineout section of the Swiggy app. Scenes is currently live in Mumbai and Bangalore. Soon it will be made live in other cities also.
Will compete with Zomato’s District app, but movie tickets not available With this service, the company will compete with Zomato’s ‘District’ app, which was recently launched for iOS and Android users. Facilities like booking your table in movies, sports, events and restaurants are being provided in the District App. However, unlike Zomato’s District app, movie ticket booking service is not available in Swiggy’s Scenes.
Zomato’s Blinkit launches Bistro as the quick commerce arm enters the 10-minute food delivery sector. Earlier in December, Amazon has also joined the race for the company’s rapid delivery branch Quick Commerce, which will compete with Blinkit, Swiggy Instamart, Zepto and BigBasket.
Swiggy’s loss reduced by 4.72% Swiggy’s loss has reduced by 4.72% in the second quarter of the financial year 2024-25. The company had released Q2FY25 results two days ago on December 3. Swiggy has suffered a loss of Rs 626 crore (consolidated net loss) in the July-September quarter. The company had suffered a loss of Rs 657 crore in the same quarter last year.
With this, revenue in the second quarter increased by 30.33% to Rs 3601 crore. The company had generated revenue of Rs 2763 crore in July-September 2023-24. Earnings from selling goods and services are called revenue. Swiggy was listed in the stock market on November 13, since then its shares have increased by more than 18%.
Swiggy’s revenue increased by 36% in FY 2024 Swiggy’s financial condition also improved in FY 2024. Swiggy’s revenue increased by 36% to Rs 11,247 crore in FY2024, from Rs 8,265 crore in its previous financial year.
During this period, the company also reduced its losses by 44% and in the financial year 2024 it stood at Rs 2,350 crore, which was Rs 4,179 crore in the previous year. The company has been helped in reducing losses by keeping its costs under control.
Although Swiggy’s performance is lower than that of Zomato, it has still narrowed the gap to its rival in FY24. Zomato recorded revenue of Rs 12,114 crore in FY24, while Swiggy’s revenue stood at Rs 11,247 crore. Similarly, Zomato made a profit of Rs 351 crore, while Swiggy had a loss of Rs 2,350 crore.
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