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Swiggy’s revenue up 56% at $1.3bn in April-September

1 week ago 7

Bengaluru: Swiggy saw 56% growth in food delivery revenue in the first half of the fiscal (April-September) compared to the same period of the previous year, its investor Prosus said in a regulatory filing. The revenue is up 91% from pre-Covid levels, Prosus said.
Prosus, a South African consumer internet company with food businesses spanning 60 countries, said Swiggy’s revenue was $1.3 billion in the first half. It said gross merchandise value grew 73%, with order growth of 70% compared to the same period of the previous year. Swiggy’s grocery business, which competes with Grofers, was up 75%.
Prosus has been one of the bigger investors in the Indian startup and unicorn space, backing companies like Mensa Brands, Meesho, Olx, PayU, PharmEasy and Byju’s. PayU, which bought rival BillDesk earlier this year, saw its total payments volume in India in the first half growing 70% to $19 billion. Revenue was up 55% to $133 million.
“In the first half of the year, our internet businesses delivered solid growth,” said Bob van Dijk, group CEO, Prosus and Naspers.

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