Swiggy Introduces ‘Fasting Mode’
Food delivery giant Swiggy has rolled out a new feature, ‘Fasting Mode,’ allowing users to disable food-related notifications while observing fasts. Announced on Monday, this feature is designed to respect religious and personal fasting preferences, ensuring users are not interrupted with meal suggestions during fasting periods.
According to Swiggy, ‘Fasting Mode’ will be available for various fasting occasions, including Ramadan and Navratri. Users can activate or deactivate it anytime through the Swiggy app, with notifications resuming automatically after fasting hours. The company aims to enhance user convenience while maintaining platform readiness for food orders as per their preferences.
Swiggy Reports Q3 Financial Performance
For the first time post-IPO, Swiggy has disclosed its financial results. The company’s Gross Order Value (GOV) grew by 30% year-on-year in the quarter ending September 30. Additionally, operating losses reduced by approximately 30%. However, Swiggy reported a net loss of ₹625.53 crore for the July-September quarter, compared to ₹657 crore in the same period last year. Revenue saw a notable increase from ₹2,763.33 crore to ₹3,601.45 crore year-on-year.
Swiggy Share Price Update
Swiggy’s stock closed at ₹359.75 on Monday (March 10). The stock’s 52-week high is ₹617, while the low is ₹317.15. It has corrected 42% from its peak. Over the past week, Swiggy’s stock has risen by 10.22%. However, it has declined by 33.64% year-to-date and 33.81% in the last three months.
With the introduction of ‘Fasting Mode’ and strong financial growth, Swiggy continues to evolve its platform while keeping an eye on market trends.