Swiggy was one of the top loss-making tech companies in FY24 despite managing to reduce its losses. 

What Happened: Benzinga India rounded up the top loss makers among the tech companies in India. Some of the usual suspects made the list with Swiggy topping the charts.

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Swiggy was the top-making company despite it reducing its losses in FY24. Swiggy's net loss was at ₹2,350 crore translating to a loss of ₹44,170 per minute. Swiggy had a revenue of ₹11,247 crore in the financial year.

Ola Electric Mobility is second on the list. Bhavish Agarwal led company had a loss of ₹1,584 crore, losing ₹30,140 per minute. Ola's loss increased from ₹1,472 crore in the previous financial year. The company made a revenue of ₹5,010 crore in FY24.

Paytm is the third company on the list. The company's losses were reduced to ₹1,423 crore in FY24. The company lost ₹27,070 per minute. The company had ₹9,978 crore in revenue in FY24. Paytm witnessed a significant challenge in January when RBI barred Paytm Payments Bank from taking fresh deposits and credit transactions. 

Ather Energy which recently filed for IPO is the fourth in the list. Ather's net loss increased to ₹1,060 crore in FY24 resulting in the company losing ₹20,170 per minute. The Hero Motocorp-backed company generated ₹1,789 crore in sales in the fiscal year.

Rebel Foods which owns cloud kitchens such as Faasos, Behrouz Biryani and Oven Story was the fifth on the list. The company's losses were reduced to ₹378.21 crore in the financial year. The firm lost ₹7,186 per minute in FY24. The company's revenue increased to ₹1,420.24 crore in the financial year. 

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