India's Swiggy Bleeds Cash in Quick-Commerce War With Blinkit, Zepto

Swiggy Ltd. reported a wider-than-expected loss as the Instamart quick-commerce business rapidly expanded its store footprint in the hyper-competitive segment.

The company said it added more stores in the fourth quarter than in the last eight quarters combined, and offered discounts in order to be competitive. Instamart, which offers grocery delivery in as little as 10 minutes, competes with Eternal Ltd.’s Blinkit and closely held Zepto, which are also on expansion sprees.