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Key Points

Swiggy's losses nearly doubled to Rs 1197 crore in Q1 FY26, primarily due to Instamart's deepening financial strain. The company saw a 54% revenue jump to Rs 4961 crore, with food delivery showing improved profitability. Quick commerce losses ballooned to Rs 797 crore despite GOV surging 108%. While shares closed slightly above IPO price, they remain down 25% year-to-date.

Key Points: Swiggy Q1 Losses Double to Rs 1197 Crore as Instamart Struggles

  • Swiggy's Q1 losses surge 96% YoY to Rs 1197 crore
  • Instamart EBIT losses spike to Rs 797 crore from Rs 379 crore
  • Food delivery EBIT improves to Rs 202 crore from Rs 67 crore
  • Revenue jumps 54% to Rs 4961 crore despite mounting losses
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Swiggy's losses nearly double in Q1 to Rs 1,197 crore

Swiggy's losses nearly double to Rs 1197 crore in Q1 FY26, driven by Instamart's mounting costs despite 54% revenue growth.

Swiggy's losses nearly double in Q1 to Rs 1,197 crore
"The widening losses were mainly due to its Quick Commerce division, Instamart, where the financial strain deepened sharply. – Swiggy Exchange Filing"

Mumbai, July 31

Swiggy Limited, the food delivery and quick commerce platform, on Thursday reported a net loss of Rs 1,197 crore year-on-year (YoY) for the June quarter (Q1 FY26), almost double the Rs 611 crore loss it posted in the same period previous year (Q1 FY25).

On quarter-on-quarter (QoQ) basis, the Bengaluru-based firm posted a net loss of Rs 1,081 crore in the previous quarter (Q4 FY25), according to its stock exchange filing.

The widening losses were mainly due to its Quick Commerce division, Instamart, where the financial strain deepened sharply.

On an EBIT basis, losses from Instamart jumped to Rs 797 crore from Rs 379 crore a year ago.

Swiggy’s overall EBITDA loss also increased to Rs 954 crore, compared to Rs 544 crore in the same quarter previous year.

However, the food and grocery delivery major recorded a 53.9 per cent jump in its revenue from operations to Rs 4,961 crore during the June quarter against Rs 3,222 crore in Q1 FY25.

However, the company recorded strong growth in revenue, which rose 54 per cent to Rs 4,961 crore from Rs 3,222 crore in the year-ago quarter.

Revenue from the food delivery business stood at Rs 1,799 crore, up from Rs 1,515 crore, while Quick Commerce revenue more than doubled to Rs 806 crore from Rs 374 crore.

The food delivery segment showed operational improvement, with EBIT rising to Rs 202 crore from Rs 67 crore previous year.

But losses continued to grow in supply chain, distribution, and platform innovation.

Gross order value (GOV) for Swiggy’s B2C business climbed 45 per cent YoY to Rs 14,797 crore.

Food delivery GOV grew 18.8 per cent to Rs 8,086 crore, while Quick Commerce GOV surged 108 per cent to Rs 5,655 crore.

On the stock market, Swiggy shares closed 0.7 per cent higher at Rs 403.95, just above the IPO price of Rs 390. Despite this, the stock is down 25 per cent so far in 2025.

- IANS

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Reader Comments

S
Shreya B
Quick commerce is bleeding money but the growth numbers are impressive! 108% increase in GOV shows people are loving instant deliveries. Maybe they need to tweak their pricing strategy for Instamart?
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Arjun K
Typical startup story - burn cash to gain market share. But when will profitability come? Investors can't keep funding losses forever. The food delivery EBIT improvement is the only silver lining here.
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Priya S
As a small restaurant owner, Swiggy commissions are already too high (25-30%). If they increase further, we'll have to stop using them. Their losses shouldn't become our burden! 😠
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Karthik V
The 54% revenue growth shows strong demand. Maybe they should focus more on profitable urban markets rather than expanding everywhere. Quality over quantity approach might help control losses.
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Michael C
Interesting case study here - food delivery becoming profitable while quick commerce bleeds. Shows how difficult last-mile delivery economics are in India. Maybe they need to partner with local kirana stores?
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Nisha Z
Used Instamart twice - delivery was super fast but prices were higher than local market. No wonder they're losing money if they're subsidizing deliveries. Better to charge proper rates than show fake growth!

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