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Swiggy Share Price: The share price of quick commerce major Swiggy declined as much as 6.88% on Monday, May 11, after its Q4 net loss narrowed to Rs 800 crore from Rs 1,081 crore in the corresponding period last year.

The Mumbai headquartered company had posted a revenue for the quarter ended March by 44.7% on a year-on-year (YoY) basis to Rs 6,283 crore as against Rs 4,410 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at a loss of ₹697 crore, narrower than the EBITDA loss of ₹962 crore last year.

The revenue generated from the food delivery vertical jumped to Rs 2,075 crore from Rs 1,629 crore in the same period last year. The company noted that its food delivery business grew at the fastest pace in nearly fastest pac in nearly four years. The company also crossed the Rs 1,000 crore. EBIT for this segment increased to ₹306 crore from ₹220 crore last year.

Revenue for the quick-commerce business increased to Rs 1,057 crore from Rs 689 crore last year. The segment reported an EBIT loss of Rs 736 crore, nearly the same as the EBIT loss of Rs 771 crore it reported last year.

In its investor presentation, Swiggy noted that its network expansion included adding seven dark stores, taking the total network to 1,143 stores across 129 cities, covering 4.8 million square feet in area.

Meanwhile, the average order value also increased by 32.8% from last year to Rs 700, driven by a sustained non-grocery mix and larger basket sizes.

As of 10:32 AM, the share price of Swiggy stood 4.78% lower at Rs 267.10 apiece.