Swiggy increased its platform fee to Rs 14 in select areas amid rising orders, aiming to counter widening losses. Despite a doubled net loss of Rs 1,197 crore, revenue surged 54% to Rs 4,961 crore. Intensifying competition from Ownly, offering lower commissions, adds pressure as Swiggy’s shares show mixed performance.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets