Swiggy's ad expenditure jumps by 28% in FY23

Swiggy's advertising expenditures increased by around 28% during FY23, reaching Rs 2,362 crore. In FY22, the company's advertising expenses were Rs 1,849 crore.

Additionally, the food delivery platform saw a 40% surge in its operating revenue, amounting to Rs 8,264.4 crore for the fiscal year ending in March 2023. In the previous year, its operating revenue was Rs 5,704.9 crore.

The company's net loss increased from Rs 3,629 crore in the previous fiscal year to Rs 4,179 crore during FY23, marking a 15% increase.

Total expenses for the company amounted to Rs 12,884 crore, which was over 34% higher than the previous fiscal year. Key categories driving these expenses included purchases of stock in trade and advertising expenses.

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