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Even with Instamart's small dip, Swiggy as a whole is doing well: overall revenue jumped 45% year-over-year to ₹6,383 crore and losses shrank by 26%.
The company says it's focusing on building a sustainable business and aims for over ₹1 lakh crore in net order value over the medium term.
Competitors like Blinkit are seeing similar trends too; the quick commerce space is clearly maturing and prioritizing profits over breakneck expansion.