Gig workers prepare to deliver orders outside Swiggy’s grocery warehouse at a market area in New Delhi, India, May 6, 2024. REUTERS
Jan 27 (Reuters) – India’s Swiggy reported a narrower third‑quarter loss sequentially, as strong demand in its quick‑commerce arm Instamart partly offset the drag from continued high investments.
The company reported a consolidated loss of 10.65 billion Indian rupees ($115.8 million) for the quarter ended December 31, compared to 10.92 billion rupees in the second quarter.
Losses, however, remained higher than the 7.99 billion rupees recorded a year earlier.
Reporting by Kashish Tandon in Bengaluru
