Foodtech major Swiggy’s ‘out-of-home consumption’ business, which includes Dineout and SteppinOut, is at the cusp of breaking even, with its adjusted EBITDA improving to -1% in the third quarter of the fiscal year 2024-25 (Q3 FY25).

In the company’s shareholders’ letter, Swiggy cofounder and CEO Sriharsha Majety said that the restaurant dining solutions arm Dineout has already turned profitable, while the events reservation business SteppingOut will further expand with the launch of .

In a statement, the company said that Dineout reached breakeven in the month of December 2024.

Overall, Swiggy’s out-of-home consumption business contributed INR 68 Cr to the company’s top line of INR 3,993.1 Cr during the quarter under review. This was an increase of 89% from INR 36 Cr in the year-ago quarter.

The loss from this arm declined over 82% to INR 8.17 Cr in the December quarter of FY25 from INR 46.44 in Q3 FY24. Sequentially, loss declined 12% from INR 9.26 Cr.

The gross order value (GOV) of the vertical grew 68% to INR 821 Cr in Q3 FY25 from INR 489 Cr in the corresponding quarter last year.

Overall, Swiggy reported an over 39% jump in its consolidated net loss to INR 799 Cr in Q3 FY25 from INR 574.4 Cr in the year-ago quarter, as expenses surged amid rising competition in the quick commerce segment. On a quarter-on-quarter (QoQ) basis, loss surged 28% from INR 625.5 Cr.

Despite the surge in loss, Swiggy reported a 31% jump in its operating revenue to INR 3,993.1 Cr during the quarter under review from INR 3,048.6 Cr in Q3 FY24.

“In recent months, we’ve introduced Bolt and Snacc (10-minute food delivery), expanded into new categories within quick commerce, and plan to offer an even greater assortment. We’ve also launched Swiggy Scenes focused on restaurant event reservations; and introduced One BLCK, the premium tier of our Swiggy One subscription program,” said Majety.

Shares of Swiggy ended Wednesday’s trading session 3.59% lower at INR 418.10 apiece on the BSE.

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