Swiggy clocks Rs 791 crore net loss in Q1
Mumbai, July 30
Swiggy Limited on Thursday posted a consolidated net loss of Rs 791 crore for the quarter ended June 30 as the company continued to expand its user base and dark-store network.
The firm reported a loss of Rs 1,197 crore in the corresponding period last financial year (Q1 FY26), according to its stock exchange filing.
On a sequential basis, the company's net loss also narrowed from Rs 800 crore in the March quarter, it added in its filing.
Commenting on the financial performance, Sriharsha Majety, MD & Group CEO, Swiggy said that the food delivery economics continue to strengthen as we innovate across affordability and consumer propositions to broaden adoption and unlock the next 100 million users in the category.
"Out-of-home consumption remains a profitable, fast-growing part of our business, making meaningful progress," Majety added.
Consolidated revenue from operations rose 37 per cent year-on-year to Rs 6,812 crore during the quarter, compared with Rs 4,961 crore a year earlier.
Revenue also increased from Rs 6,383 crore reported in the preceding March quarter, driven primarily by sustained momentum in the company's quick-commerce business.
The company's operating performance also improved during the quarter, with adjusted EBITDA loss narrowing to Rs 650 crore from Rs 945 crore in the year-ago period.
Swiggy continued to add users at a healthy pace, with average monthly transacting users (MTUs) increasing 27.4 per cent year-on-year to 27.5 million. On a sequential basis, MTUs grew 9.2 per cent.
The food delivery business remained resilient, with gross order value (GOV) rising 17.4 per cent year-on-year to Rs 9,490 crore.
The segment added around 0.9 million monthly transacting users during the quarter, taking the total to 19.2 million, an increase of 18 per cent over the previous year.
Adjusted EBITDA for the food delivery segment improved by Rs 100 crore year-on-year to Rs 292 crore.
However, it slipped marginally by Rs 5 crore compared with the previous quarter. The segment's adjusted EBITDA margin improved to 3.1 per cent of GOV, expanding 70 basis points year-on-year, although it declined 22 basis points sequentially.
— IANS
Reader Comments
Loss narrowing is good news! From 1197 crore to 791 crore is progress. Revenue up 37% shows the demand is real. Also, 27.5 million monthly transacting users is no joke. The quick-commerce expansion might be costly now but will pay off long term. Building the infra takes time. Patience, everyone! 🇮🇳
As someone who works in finance, this is concerning. EBITDA losses are narrowing but still negative at 650 crore. The food delivery segment does have positive EBITDA of 292 crore, but the quick commerce is likely dragging everything down. They need to show a clear path to profitability, especially with the IPO coming.
Swiggy is literally delivering everything now - from biryani to batteries! Instamart is so convenient for last-minute needs. I'm willing to wait for profits if they keep making life easier for us. But bhai, please improve your customer service - sometimes the delivery boys are rude 🫤
This is the same song and dance Zomato did before turning profitable. Swiggy is investing in growth - expanding to tier 2 and 3 cities, building dark stores, and acquiring users. The 37% revenue growth is solid. Every startup takes time to be profitable. I'm holding my shares, at least for now!
Honestly, I'm more worried about the delivery partners than the company's losses. With this pressure to be profitable, they'll squeeze the riders even more. The gig economy model is exploitative. Hope the company also focuses
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