Swiggy Q2 results show net loss narrowing to Rs 922 crore as revenue rises 36 percent

Swiggy Ltd has reported a narrowed consolidated loss after tax of Rs 922 crore for the second quarter of FY27, down from Rs 1,092 crore in the same period last year, as expanding consumer demand across Indian cities drove a 36 percent jump in revenue.

Operational revenue for the quarter ending September rose to Rs 7,571 crore, supported by double-digit volume gains in core food delivery and quick commerce. Total gross order value across Swiggy's consumer platform reached Rs 20,793 crore, a 24.6 percent increase year-on-year.

Core food delivery reaches record profitability

Swiggy's core food delivery arm posted its highest-ever quarterly adjusted EBITDA of Rs 341 crore, up 42 percent from Rs 240 crore a year ago. Gross order value in food delivery grew 17.7 percent to Rs 10,054 crore, bolstered by improved order density, advertising income, and higher delivery efficiency.

Monthly transacting users for food delivery expanded to 19.8 million from 17.2 million last year. Swiggy maintained its full-year growth guidance of 18 to 20 percent for this division and noted that growth surpassed 20 percent in September.

Toing, Swiggy's affordable food ordering platform, has now expanded into more than 50 cities, with two-thirds of its user base representing new or reactivated accounts.

Instamart scales store network as losses peak

Instamart, Swiggy's quick commerce division, generated a gross order value of Rs 9,230 crore, up 31 percent from Rs 7,022 crore in the corresponding quarter last year. Net order value jumped 34.8 percent year-on-year to Rs 6,594 crore.

To support higher demand and wider product selection, Swiggy added 69 net dark stores during the quarter, taking its total footprint to 1,240 stores across 133 cities. Instamart's monthly transacting users grew 23 percent to 14.8 million.

Adjusted EBITDA losses for Instamart widened slightly to Rs 895 crore from Rs 849 crore a year earlier due to investments in customer acquisition. However, management said it expects these losses to have peaked during the September quarter, pointing to an improved operating margin of negative 9.7 percent compared to negative 12.1 percent last year.

Segment performance breakdown

Portfolio adjustment and balance sheet strength

Swiggy also announced an agreement to sell its Lynks Logistics business to Udaan's parent firm for Rs 500 crore. Alongside a separate Rs 75 crore investment, the deal will provide Swiggy with a stake of approximately 3.2 percent in Udaan.

Group CEO Sriharsha Majety said customer engagement and operating metrics strengthened across all segments during the quarter. Swiggy ended September with a cash balance of Rs 13,662 crore, providing substantial liquidity to support further expansion.