Swiggy Q2 loss narrows as revenue climbs 36 percent
Food delivery firm Swiggy reported a consolidated net loss of Rs 922 crore for the second quarter, marking a 16 percent improvement year-over-year while scaling its quick commerce operations.
Swiggy’s consolidated net loss narrowed to Rs 922 crore for the quarter ended September 2026, down from Rs 1,092 crore in the same period last year. Revenue saw a 36 percent increase, reaching Rs 7,571 crore, supported by steady growth in its food delivery segment and expansion in quick commerce.
While the food delivery business maintained an adjusted EBITDA profit of Rs 341 crore, the company’s broader profitability was impacted by its quick commerce division, Instamart, and newer ventures like the budget-focused app Toing. Instamart reported widened adjusted EBITDA losses of Rs 895 crore, though management stated it expects losses to have peaked during this quarter.
To address competitive pressures and improve margins, Swiggy announced plans to shift Instamart toward an inventory-led model starting in the third quarter. This transition is expected to improve contribution margins by 80 basis points over the next several months, providing the firm with greater control over pricing and inventory as it competes against rivals like Zomato, Flipkart, and Amazon.