Brands
Swiggy feels the pinch as losses deepen despite revenue rise
MUMBAI: Swiggy may be whipping up record revenues, but it’s still nursing a sizeable financial hangover. The food delivery giant reported a consolidated net loss of Rs 1,197 crore for the quarter ended 30 June 2025, widening from Rs 611 crore in the same quarter last year even as its operating revenue jumped 54 per cent year-on-year to Rs 4,961 crore.
This comes just a quarter after its IPO, which fetched fresh proceeds of Rs 4,359 crore. The company, now publicly listed on both NSE and BSE, seems to be in no mood to tighten the purse strings yet.
Swiggy’s quick commerce and supply chain businesses were the biggest revenue drivers this quarter, clocking Rs 806 crore and Rs 2,259 crore respectively. Its core food delivery vertical followed at Rs 1,799 crore. However, not all lines were profitable in fact, far from it. Quick commerce alone posted a loss of Rs 797 crore, and the supply chain and distribution business added another Rs 47 crore to the red. Platform Innovations, including experiments like Swiggy Sports, Genie and Minis, lost Rs 52 crore.
Even the bright spot food delivery wasn’t enough to offset expenses across the board. Swiggy spent Rs 1,036 crore on advertising and promotions, Rs 1,313 crore on delivery and related charges, and Rs 816 crore on other operating costs. Employee expenses stood at Rs 686 crore, while depreciation and amortisation costs rose to Rs 288 crore.
Total expenses for the quarter reached Rs 6,244 crore more than Rs 1,280 crore higher than total income, which came in at Rs 5,048 crore (including Rs 87 crore in other income). No tax was recorded for the quarter.
Swiggy also booked an additional Rs 1 crore loss from its associate company and reported Rs 2 crore in other comprehensive loss, resulting in a total comprehensive loss of Rs 1,199 crore for the quarter.
The company’s paid-up share capital stood at Rs 230 crore. Earnings per share for the quarter came in at a negative Rs 5.04.
Swiggy’s consolidated results include wholly owned subsidiaries like Scootsy Logistics, Supr Infotech, Lynks Logistics, and Swiggy Sports, along with the Swiggy Employee Stock Option Trust and associate Loyal Hospitality.
While the company continues to spend big across verticals, investors and analysts will be watching closely to see if Swiggy’s scale can eventually serve up a path to profitability or if it’s still biting off more than it can chew.
Brands
UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
