Swiggy Q2 results: Company could turn adjusted EBITDA positive by Q3FY26, says management

Swiggy has been reporting net losses in the last three financial years. As per management, the company is expected to turn adjusted EBITDA positive at the consolidated group level by Q3FY26 (Oct-Dec 2025).

According to management, the food delivery business is already profitable on an adjusted EBITDA basis and is ramping up margins steadily every quarter. Swiggy’s food delivery business reported a revenue growth of 22% YoY to ₹1,577 crore.

Meanwhile, food delivery business Earnings before interest and taxes (EBIT) was at a profitable ₹122 crore compared to a loss of ₹43.7 crore last year and a profitable ₹67.4 crore in the June quarter.

As per management, quick-commerce is in the investment phase amidst rapid expansion of its addressable market and substantial competitive intensity in the near term. Three out of the top seven cities already have positive contributions, with 75% of the stores in these cities being profitable.

Swiggy's quick-commerce business revenue stood at ₹490 crore, up 136% YoY, while its EBIT remained at a loss of ₹317 crore, which is down marginally compared to a net loss of ₹320 crore last year.

Further, the management said, "The out-of-home consumption business has made rapid progress in growth and profitability trajectory since acquisition and is expected to break even in the current fiscal year."