Swiggy Instamart to appoint Ankit Jain as SVP

Swiggy Instamart, the quick commerce platform of food aggregator Swiggy, is reportedly planning to hire Ankit Jain as its senior vice president (SVP). Currently, Jain is working with Flipkart as SVP and head of grocery and large supply chain, and ekart design. He is responsible for end-to-end Grocery and Large Supply Chain.

Jain is expected to replace Sairam Krishnamurthy, SVP and chief operating officer (COO). According to Moneycontrol, the leadership rejig is part of a larger move at Flipkart. Any update from either of the companies is yet to be announced.

The leadership change, part of a larger string of exits at Flipkart, marks a significant moment in the quick commerce talent war, as Swiggy Instamart steps up its expansion plan and the Walmart-backed e-commerce firm readies its quick delivery offering, Flipkart Minutes.

Krishnamurthy joined Swiggy Instamart in August 2024 as the first COO of Swiggy Instamart. He joined them from More Retail, the Amazon-backed offline chain run in partnership with Samara Capital. He has also held leadership roles at Unilever and Hindustan Unilever Limited (HUL). It is not yet clear where he is headed next.

Q4 result update 

On the business side, Swiggy saw its loss widen for the fourth quarter (January-March) of the financial year 2024-25 (Q4FY25). It reported a consolidated loss of Rs1,081.1 crore for the quarter, compared to a loss of Rs 554.7 crore in the corresponding quarter of FY24.

The platform's consolidated revenue from operations jumped by 44.8 per cent to Rs4,410 crore from Rs3,045.5 crore in Q4FY24.

For the full year, the company reported a loss of Rs3,116.7 crore, compared to the loss of Rs2,350 crore in FY24. Revenue for the full year touched Rs15,227 crore, up 35 per cent year-on-year (Y-o-Y). The company's losses widened as it invested in the quick commerce (qcom) business.