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Swiggy's Q3 Loss Widens to Rs 1,065 Cr Despite 54% Revenue Surge

Swiggy reported a consolidated net loss of Rs 1,065 crore for Q3 FY26, widening from a loss of Rs 799 crore in the same quarter last year. However, the company's revenue from operations saw a sharp 54% year-on-year increase to Rs 6,148 crore, driven by its core food delivery and quick commerce segments. While the EBITDA loss expanded, the food delivery business showed significant improvement with adjusted EBITDA rising 1.5 times year-on-year. The company's Instamart quick commerce service expanded its dark store network to 1,136 stores across 131 cities during the quarter.

Key Points: Swiggy Q3 Loss Rs 1,065 Cr, Revenue Jumps 54%

  • Net loss widens to Rs 1,065 crore
  • Revenue surges 54% YoY to Rs 6,148 crore
  • Food delivery adjusted EBITDA improves 1.5x
  • Instamart expands to 1,136 dark stores
2 min read

Swiggy's Q3 loss widens to Rs 1,065 crore

Swiggy's Q3 FY26 net loss widens to Rs 1,065 crore, but revenue surges 54% YoY driven by food delivery and quick commerce growth.

"The company posted strong revenue growth, driven mainly by its food delivery and quick commerce businesses."

Mumbai, Jan 29

Food delivery and quick commerce company Swiggy on Thursday reported a wider consolidated net loss of Rs 1,065 crore for the third quarter of FY26, compared with a loss of Rs 799 crore in the same period last financial year.

Despite the higher loss on a year-on-year basis, the company posted strong revenue growth, driven mainly by its food delivery and quick commerce businesses.

Swiggy's revenue from operations rose sharply by 54 per cent year-on-year (YoY) to Rs 6,148 crore in Q3, up from Rs 3,993 crore in the corresponding quarter of the previous financial year, according to its stock exchange filing.

On a sequential basis, revenue grew 11 per cent from Rs 5,561 crore reported in the July-September quarter (Q2 FY26).

The net loss, however, narrowed slightly from Rs 1,092 crore in Q2 FY26, according to its regulatory filing.

At the operating level, Swiggy reported an EBITDA loss of Rs 782 crore during the quarter, compared with an EBITDA loss of Rs 725 crore in the same period last financial year.

The company's core food delivery business continued to show steady growth, with revenue increasing to Rs 2,041 crore from Rs 1,637 crore a year ago.

Gross order value for the segment rose by 20.5 per cent on a year-on-year basis, while adjusted EBITDA improved significantly to Rs 272 crore, up 1.5 times from last year, as per its regulatory filing.

During the quarter, Instamart added 37 dark stores, taking Swiggy's total dark store count to 1,136 across 131 cities, with a total operational area of 4.8 million square feet.

The supply chain and distribution business also reported strong growth, with revenue rising to Rs 2,981 crore from Rs 1,693 crore in the same quarter last financial year.

In the stock market, Swiggy shares erased all their intra-day gains in the final minutes of Thursday's trading session ahead of the earnings announcement and ended nearly unchanged at Rs 323.85.

The stock is currently trading about 17 per cent below its IPO price of Rs 390.

- IANS

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Reader Comments

R
Rohit P
This is the story of all Indian startups. Burn cash to gain market share. Zomato was also like this for years before turning profitable. Swiggy's Instamart is adding dark stores like crazy (1,136 now!). The question is, when will the music stop? Hope they find a sustainable path soon.
D
David E
As someone who tracks the market, the key positive is the food delivery EBITDA turning positive and improving 1.5x. That's the core business getting healthier. The massive losses are being driven by quick commerce, which is a capital-intensive race with Blinkit. They need to slow down the cash burn.
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Ananya R
Honestly, the convenience is unmatched. Getting groceries in 10 minutes has changed how my family shops. But I do feel bad for the delivery partners sometimes, especially in this heat. The company is losing money, but are the workers earning enough? That's the real question.
K
Karthik V
The stock reaction says it all—flat closing after the news. Investors have priced in these losses for now, betting on future profits. But patience is wearing thin. 17% below IPO is not a good look. They need to show a clear path to profitability, not just top-line growth. Jai ho for revenue, but where are the profits?
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Sarah B
It's a classic tech dilemma. The service is fantastic and they're growing fast, but the unit economics are tough. Every order with a Rs 50 discount adds to that Rs 782 crore EBITDA loss. As a respectful criticism, maybe they should focus on making existing cities profitable before expanding to 131 cities

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