Swiggy Q2 results: Will the company turn profitable this quarter? Check earnings preview

Food and grocery delivery aggregator, Swiggy Ltd, will announce its September quarter results on Thursday, October 30, 2025. The company is likely to report mixed earnings with a rise in revenue, aided by higher growth in its quick commerce platform Instamart. Despite a rise in revenue, Swiggy is likely to net loss during the quarter.

During the September quarter, the company could report a 48 to 53% YoY rise in revenue in the range of ₹5,360 to ₹5,490 crore, supported by a substantial rise in revenue from the Instamart business. Instamart’s gross order value (GOV) could see a 22 to 26% rise on a sequential basis and a triple-digit jump on a yearly basis. Meanwhile, the food delivery business GOV could see single-digit growth.

Swiggy Ltd reported revenue of ₹3,601 crore in the same quarter of last year, while it was ₹4,961 crore in the previous quarter.

Despite revenue growth, Swiggy’s profitability could take a hit with a net loss in the range of ₹630 to ₹730 crore as the company continues to make higher allocations towards dark store expansions as well as face intense competition within the industry. The company reported a net loss of ₹626 crore in the September quarter of FY25, while the loss stood at ₹1,197 crore in the previous quarter.

During the result announcement, Swiggy investors will look forward to key metrics like gross merchandise value (GMV) for the food delivery business and GOV of the Instamart business. Other key metrics like new dark store additions, net order value (NOV) growth will also be closely tracked. Management commentary on quick commerce business profitability, competition and business outlook will also be important.

Stock performance

So far this year, Swiggy shares are down over 22%. The stock has witnessed weak investor sentiment mainly due to the lack of profitability. The stock is down over 32% from its 52-week high of ₹617.30 apiece, while compared to its IPO issue price of ₹390, the shares have gained 7.6%.