Swiggy Ltd.'s second quarter revenue beat estimates, but its net loss and EBITDA loss were higher than expected. Food delivery profitability improved, while Instamart continued to invest in store expansion and growth. Swiggy Ltd.'s consolidated net loss narrowed 15.6% YoY to Rs 922 crore in the quarter ended Sept 30, 2026, compared with a loss of Rs 1,092 crore in the year-ago period. The loss was wider than the estimate of Rs 871 crore.
Revenue from operations rose 36.1% to Rs 7,571 crore from Rs 5,561 crore the previous year, exceeding the Bloomberg estimate of Rs 7,336 crore.
EBITDA loss narrowed to Rs 770 crore from Rs 798 crore a year earlier, but was higher than the estimated loss of Rs 595 crore. Other income increased to Rs 212 crore from Rs 59 crore in the year-ago quarter.
Segment-wise, Swiggy's food delivery revenue rose 22% YoY at Rs 2,338 crore, while food delivery EBIT jumped 39% to Rs 349 crore. Quick commerce revenue sruged 33% YoY at Rs 1,306 crore and quick commerce EBIT loss stood at Rs 764 crore against loss of Rs 739 crore.
On FY27 outlook, the food delivery platform sees GOV, excluding Toing, growth at 18-20%. It does not expect quick commerce competition to ease in the near term.
Speaking on Q2 show, Swiggy's Managing Director and CEO Sriharsha Majety said, "Our Food delivery business delivered its highest ever profits and margins while we continue to unlock new category growth through Toing, our standalone offering for affordable meals. In quick commerce, we delivered accelerated growth as guided and obtained necessary approvals to qualify as an Indian owned and controlled company - an important milestone for the business with the transition underway.
Majety added, "We see assortment as a curation game rather than a volume game, and our aim is to enable consumers to buy better, not just offer more."
Swiggy Q2 Results - Cons, YoY
- Net loss at Rs 922 crore vs loss of Rs 1,092 crore YoY
- Revenue up 36.1% at Rs 7,571 crore vs Rs 5,561 crore YoY
- EBITDA loss at Rs 770 crore vs loss of Rs 798 crore YoY
- Other income at Rs 212 crore vs Rs 59 crore YoY
Results Vs Estimates
- Net loss at Rs 922 crore vs estimate of Rs 871 crore loss
- Revenue at Rs 7,571 crore vs estimate of Rs 7,336 crore
- EBITDA loss at Rs 770 crore vs estimate of Rs 595 crore loss
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Segment Performance
- Food delivery revenue up 22% at Rs 2,338 crore YoY
- Food delivery EBIT up 39% at Rs 349 crore YoY
- Quick commerce revenue up 33% at Rs 1,306 crore YoY
- Quick commerce EBIT loss at Rs 764 crore vs loss of Rs 739 crore YoY
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