Swiggy may recover quick commerce share despite widening losses: Morgan Stanley

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Brokerage house Morgan Stanley believes online food and grocery delivery company Swiggy’s quick commerce business has a bright future.

This is despite the fact that while quick commerce has helped drive Swiggy’s revenue growth, the company’s expenditure on the vertical continues to drag its bottom line down.

Instamart, Swiggy’s quick delivery business, saw its gross order value (GOV) rise 101% year-on-year to Rs 4,670 crore. However, the adjusted Ebitda loss also increased to Rs 840 crore during the same period.

Nevertheless, Morgan Stanley said…



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Swiggy may recover quick commerce share despite widening losses: Morgan Stanley


Brokerage house Morgan Stanley believes online food and grocery delivery company Swiggy’s quick commerce business has a bright future.

This is despite the fact that while quick commerce has helped drive Swiggy’s revenue growth, the company’s expenditure on the vertical continues to drag its bottom line down.

Instamart, Swiggy’s quick delivery business, saw its gross order value (GOV) rise 101% year-on-year to Rs 4,670 crore. However, the adjusted Ebitda loss also increased to Rs 840 crore during the same period.

Nevertheless, Morgan Stanley said…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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