Genie Goes Off Duty: Swiggy Suspends Its Popular Service

Swiggy Genie, its citywide delivery service, has been suspended. In the majority of places, the Swiggy app does not display the service, which was operational in about 70 Indian towns. A notice stating that the Swiggy Genie service is "temporarily unavailable" appears at a few spots where it is accessible through the app.

 At the moment, Bengaluru, Mumbai, and Delhi NCR do not have access to the service. However, media reports were unable to determine whether it had been suspended in every city where it operated. Swiggy stated that Genie is taking a little hiatus from fulfilling wishes in response to a post on X regarding the withdrawal of Swiggy Genie from the app.

 Although there isn't a specific timeframe for Genie's return yet, Swiggy stated that their staff is diligently working behind the scenes to get it back as soon as possible. We'll be sure to update you as soon as it resumes operations!

Not the 1^st Time for Genie

In April 2020, Swiggy Genie, a hyperlocal delivery service, was introduced in 30 cities. Since then, the business has extended its immediate pickup and drop-off service to nearly 70 cities nationwide. It's noteworthy that Swiggy has stopped Swiggy Genie before.

The foodtech giant suspended operations in Hyderabad, Bengaluru, and Mumbai in 2022. It stated at the time that the company had to give priority to its food marketplace and rapid commerce vertical, Instamart, due to the spike in demand for these services. The most recent development occurs one day after Swiggy declared that more than 500 cities nationwide now offer its 10-minute delivery service, Bolt.

Intriguingly, Zomato's fiercest rival Eternal declared earlier this week that it is discontinuing Quick, a 15-minute meal delivery service, at its Q4 results announcement because it failed to generate any more demand during its pilot period.

Additionally, Zomato said that it will discontinue Zomato Everyday, its home-meal service. On Friday, May 9, Swiggy is scheduled to release its Q4 financial results. Brokers predict that the company's net loss will soar to INR 927 Cr and that its EBITDA margin will report a 16% sequential fall during the quarter.

According to JM Financial, Swiggy Instamart's "aggressive dark store expansion and impact of a high competitive landscape" are to blame for the increase in losses.

Recent Financial Dynamics of Swiggy

In Q3 FY25, Swiggy saw a consolidated net loss of INR 799 Cr, up 39% from INR 574 Cr in the same quarter last year. During the quarter, operating revenue soared 31% year over year to INR 3,993 Cr. Strong demand in its primary meal delivery operation and an increase in quick commerce income were the main drivers of this rise.