Swiggy, the upcoming IPO-bound food delivery firm, reported a 45% surge in revenue to Rs 8,625 crore for FY23, while the net loss expanded to Rs 4,179 crore. Swiggy’s FY22 revenue was Rs 5,705 crore with a net loss of Rs 3,629 crore. Purchases of stock in trade and employee benefits costs increased significantly. Swiggy’s subsidiary, Dineout, contributed Rs 77.5 crore to revenue with an operating loss of Rs 176 crore. The company, considering a domestic IPO, is reportedly contemplating letting go of 350-400 employees, around 6% of its workforce, as part of cost-cutting measures.