Swiggy’s Revenue Trickles Down 21% During Lockdown Murk!

Swiggy’s Revenue Trickles Down 21% During Lockdown Murk!
Photo by micheile || visual stories on Unsplash

A friend in need is a friend indeed. Swiggy, India’s leading food delivery service company is exemplary of this age-old saying. With ‘swiggying’ on their mind, thanks to the food delivery service, bachelors living by themselves could feed themselves with food other than Maggi (slurp!:p). However, things went downhill during the initial phase of lockdown as the pandemic took the country by jolt in 2021. The lockdown woes compelled the delivery app to shut doors for a substantial period of time. As a result, the brand witnessed a revenue drop of whopping 26.6% year-on-year to Rs 2,547 crore for the fiscal year ending March 2021.

With regulatory rules in place to prevent the spread of the virus (which also meant people were more wary of ordering food from outside and sticking with home-cooked meals), the business saw a major drop in orders. Things were not looking good as it took a toll on the revenue inflow.

While the early phase of Covid-19 was an intense one when the brand had to overcome challenges and keep the operations running, the latter phase brought in some light at the end of the tunnel. The easing of the lockdown July 2021 onwards brought back resurgence. Curfews were gradually lifted and vaccines materialised. The restaurant aggregator model eventually beyond its core offering of food delivery. 

Too long? Here’s a one-liner: Food delivery was a boon during the COVID-19 lockdowns. Despite being the hero we needed, Swiggy has faced losses in the COVID-19 murk.

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