Swiggy Q2 net loss widens to ₹1,092 crore, revenue jumps 54% YoY

Its net loss widened by 74.44% year-on-year (YoY) to ₹1,092 crore during the quarter under review, compared to ₹626 crore in the second quarter of the 2024-25 fiscal year (Q2FY25), it said in a regulatory filing.

The company, however, witnessed a 54.43% YoY increase in its revenue from operations to ₹5,561 crore in Q2 of FY26, as against ₹3,601 crore in the corresponding quarter of the previous fiscal year.

At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation) reported a loss of ₹798 crore during the quarter, compared to ₹554 crore in the September quarter of FY25.

Swiggy’s food delivery business’ gross order value (GOV) continues to grow in line with guidance at a healthy 18.8% YoY, to ₹8,542 crore, despite volatile macro-consumption trends and higher-than-usual rainfall. The growth was driven by competitive action and the scope expansion of subscription programmes.

“Despite the recent narrative on platform fee hikes, the total cost of service for users (delivery fee + platform fee + cost of membership programme) remains 5-6% of AOV over the last 3 years, underpinning our focus on affordability,” Swiggy said.

Swiggy platform’s average monthly transacting users (MTU) stood at 22.9 million, up by 34% YoY and 6.1% sequentially.

The company’s quick-commerce business’ GOV stood at ₹7,022 crore, showcasing an accelerated 107.6% YoY growth. The segment added 40 dark stores to reach 1,102 stores across 128 cities, it said.

The quick commerce segment’s average order value surged by approximately 40% YoY to ₹697 crore, led by continued expansion of non-grocery selection and larger-basket buying behaviour across user cohorts.

What the management said

Commenting on the earnings, Sriharsha Majety, MD and Group CEO of Swiggy, said: “Swiggy’s Food delivery business delivered another quarter of robust growth and improved profitability, with the double-digit YoY order growth at the highest in 2 years. This was led by acceleration in user-growth on the back of new propositions like Bolt, 99-Store, Deskeats, and Health-focused curations; all aimed at covering the entire breadth of user expectations.”

“Instamart made giant strides in catering to all purchase missions through Maxxsaver (grocery) and Quick India movement (non-grocery), driving up AOV 40% YoY. A ~200 bps QoQ Contribution margin improvement showcases our commitment to drive scale-led, sustainable and profitable growth in Quick-commerce, led by best-in-class speed and selection," Majety added.

Shares of Swiggy closed 0.23% lower at ₹418 apiece on the National Stock Exchange (NSE) on Thursday. However, the earnings were declared after the market closed.

Swiggy has a total market capitalisation of ₹1.04 lakh crore, as of October 30, 2025, according to data on the NSE.