Bengaluru, Jan. 29 -- Swiggy Limited struck a cautious note on its quick commerce business in the December quarter, signalling a review of aggressive consumer incentives amid intense competition. Adjusted Ebitda losses of Instamart, the company's quick commerce arm, widened to Rs.908 crore during the quarter compared to Rs.578 crore in the year-ago period as it stepped up spending on marketing and customer-facing experiments such as Maxxsaver, and on a greater assortment of products.

Some recent investments delivered only "limited success" and are currently being reviewed, the firm's managing director and group CEO Sriharsha Majety said in the letter shareholders. "Amidst irrational competition, our recent investments into lower consumer...