Key Points
- Swiggy partners with PharmEasy for 10-minute medicine deliveries.
- This service starts in Bengaluru.
- Customers can upload prescriptions or get them during a consultation.
- Swiggy’s losses increased to Rs 611 crore in Q1FY25.
- Revenue from operations went up by 35% to Rs 3,222.2 crore.
Looma News
Swiggy is diving into the e-pharmacy space by partnering with PharmEasy to offer quick, 10-minute medicine deliveries. This change reflects a growing trend where quick delivery companies are expanding their services to improve average order values and profits.
The company is testing this new service in Bengaluru, moving beyond just basic over-the-counter medicines like pain relief sprays. Customers can now get pain relievers, fever medicines, and even prescription drugs. They can either upload their prescriptions or create them during a consultation with PharmEasy.
Swiggy’s new initiative comes as its operational losses climbed to Rs 611 crore in Q1FY25, up from Rs 564 crore the year before. The company faced expenses of Rs 3,908 crore for the quarter, which is a 27 percent jump from Rs 3,073 crore in the same period last year. Still, Swiggy’s revenue from operations hit Rs 3,222.2 crore, a 35 percent rise compared to Rs 2,389.8 crore from the previous year.
For comparison, Zomato, a rival, reported revenue of Rs 4,206 crore with a profit of Rs 253 crore in Q1FY25. Over the year, Swiggy’s revenue grew by 36 percent to Rs 11,247 crore in FY24, while its losses decreased by 44 percent to Rs 2,350 crore, thanks to better cost management.
