Swiggy Narrows Quarterly Loss to ₹800 Crore as Food Delivery, Instamart Bump Up Business

Mumbai, May 8: Food delivery and quick commerce platform Swiggy reported a narrower quarterly loss on Thursday as strong growth in its food delivery and Instamart businesses boosted revenue and improved operating metrics despite intense competition in the quick commerce segment.

The company posted a consolidated net loss of ₹800 crore for the March quarter, compared with a loss of ₹1,081 crore in the year-ago period and ₹1,065 crore in the December quarter. Revenue from operations jumped about 45% year-on-year to ₹6,383 crore, driven by robust growth in food delivery and quick commerce orders.

Core Performance

Swiggy said its core food delivery business continued to perform strongly during the quarter, with gross order value growing 22.6% to ₹9,000 crore — the segment’s fastest growth in 15 quarters. The company also highlighted improving profitability trends across businesses despite ongoing investments in expansion.

The quick commerce arm, Instamart, remained a key growth driver as consumers continued shifting toward rapid-delivery platforms for groceries and daily essentials. Swiggy said Instamart’s adjusted EBITDA margin improved sequentially to -10.9% from -11.4%, indicating gradual improvement in unit economics even as competition remained aggressive.

Despite Slowdown

CEO Sriharsha Majety said the company delivered strong growth despite concerns around a slowdown in the quick commerce industry and added that margins improved compared with the previous year.

The results come at a time when India’s quick commerce sector is witnessing intense competition among players such as Blinkit, Instamart and Zepto, with companies investing heavily in dark stores, delivery networks and discounts to gain market share.

The narrowing of losses suggests Swiggy may be beginning to benefit from scale efficiencies after several quarters of elevated spending on expansion.

Eyeing Profitability

At the same time, investors remain focused on how quickly Swiggy can move toward sustained profitability as competition in the quick commerce segment continues to pressure margins.

The company’s improving performance also reflects broader growth trends in India’s online food delivery and instant commerce market, where rapid delivery of groceries, electronics and daily-use products has become increasingly mainstream in urban centres.

Swiggy’s food delivery business continued to remain profitable at the adjusted EBITDA level, while Instamart losses showed signs of stabilisation despite ongoing investments in network expansion and customer acquisition.

Market participants are now expected to closely watch management commentary around expansion plans, competitive intensity and the path to profitability over the coming quarters.

While the company’s revenue momentum remains strong, analysts say sustained improvement in margins and cash burn will remain critical for investor confidence, especially as competition in India’s fast-growing quick commerce market intensifies further.

Source:

• https://nsearchives.nseindia.com/corporate/SWIGGY_08052026154323_SE_Intimation_Outcome_Signed.pdf