Swiggy Q2 results: Loss narrows YoY to ₹922 crore, Instamart GOV surges 31%; check numbers

However, sequentially, the company’s loss expanded from ₹791 crore in the first quarter of FY27, according to a regulatory filing.

Its revenue from operations surged 36.14% YoY to ₹7,571 crore during the quarter under review, compared with ₹5,561 crore in the July-September quarter of the 2025-26 fiscal year (Q2 FY26).

Its adjusted EBITDA loss (earnings before interest, tax, depreciation and amortization) stood at ₹760 crore, down by ₹64 crore YoY.

The Swiggy platform saw its average monthly transacting users (MTU) grow 21% YoY to 27.8 million.

The Bengaluru-based firm saw its business-to-client (B2C) gross order value (GOV) grow by 24.6% YoY to ₹20,793 crore.

Quick commerce business performance

Its quick-commerce or Instamart GOV surged 31.4% YoY to ₹9,230 crore in Q2 FY27, with its net order value (NOV) surging 34.8% YoY to ₹6,594 crore.

The firm’s quick-commerce business recorded a 13.3% YoY rise in its total dark store area to more than 5.2 Mn sq ft, with a net addition of 69 dark stores to reach 1,240 stores across 133 cities.

Food delivery business highlights

The company said that the GOV of its food delivery business grew 17.7% YoY to ₹10,054 crore. Its adjusted EBITDA increased ₹101 crore YoY to reach ₹341 crore.

It further stated that Toing, its standalone affordability app, is now in more than 50 cities, and two in three of its new users are either new to Swiggy or long-term dormant. Furthermore, the company kept its guidance for the food delivery business (ex-Toing) unchanged at 18-20%.

Out-of-home business highlights

The firm clocked its out-of-Home consumption growing, with a 34.9% YoY surge in GOV to ₹1,508 crore, with active restaurants rising by 48% YoY to 66,000.

“We are also experimenting with new offerings like dining vouchers, in-restaurant & in-cinema ordering to fuel future growth,” Swiggy said in a letter to shareholders.

What the management said

Commenting on the earnings, Sriharsha Majety, MD & Group CEO, Swiggy, said: "Our Food delivery business delivered its highest-ever profits and margins while we continue to unlock new category growth through Toing, our standalone offering for affordable meals.”

In quick commerce, Majety said that the company delivered accelerated growth as guided and obtained necessary approvals to qualify as an Indian owned and controlled company - an important milestone for the business with the transition underway.

“As we shared at our Capital Markets Day, we believe that differentiation will decide winners, with speed and selection becoming table stakes. We see assortment as a curation game rather than a volume game, and our aim is to enable consumers to buy better, not just offer more,” Majety added.

Shares of Swiggy declined as much as 7.13% to hit a fresh 52-week low of ₹207.70 apiece on the National Stock Exchange (NSE) on Thursday, October 22. However, the results were declared after the market closed.

Swiggy has a total market capitalisation of ₹58,353.03 crore as of October 22, 2026, according to data on the NSE.