Swiggy reported a net loss of ₹922 crore for July to September 2026, 15.6% smaller than the ₹1,092 crore loss a year earlier, according to Business Standard on 22 October. Revenue from operations rose 36% to ₹7,571 crore from ₹5,561 crore. Spectate Media has not seen the company's filing.
Against the previous quarter
The loss was larger than the ₹791 crore of the first quarter, by about 17%, and revenue was up about 11% from ₹6,812 crore. Total expenses rose nearly 30% from a year earlier to ₹8,703 crore. NDTV Profit, as summarised by an aggregator, says the result missed analyst estimates, which Business Standard does not address.
Segments
Food delivery gross order value was ₹10,054 crore, up 17.7% year on year, with 19.8 million monthly transacting users. Its adjusted EBITDA was ₹341 crore, or 3.4% of order value, and chief executive Sriharsha Majety called it the highest profit and margin the business has delivered. Instamart, the quick commerce arm, had order value of ₹9,230 crore, up 16.7% on the quarter, and net order value of ₹6,594 crore, up 31.4% on the year. It added 69 dark stores, for 1,240 in all. Its contribution margin was minus 1% of order value, and its adjusted EBITDA margin minus 9.7%, which on ₹9,230 crore is a loss of about ₹895 crore. Out-of-home consumption order value rose 34.9% to ₹1,508 crore, profitable for a seventh quarter.
The market view
Upstox puts the company's market value at ₹58,353 crore on NSE data as of 22 October. Eternal, a peer, reported a Q2 profit of ₹125 crore on revenue up 78%.
Key numbers
- Net loss, Q2 FY27: ₹922 crore (Down 15.6% on the year; up from ₹791 crore in Q1)
- Revenue from operations: ₹7,571 crore (Up 36% on the year)
- Food delivery adjusted EBITDA: ₹341 crore (3.4% of order value)
- Instamart adjusted EBITDA margin: Minus 9.7% (Contribution margin minus 1%)
What boards and CFOs should note
Three points stand out. First, the year-on-year loss is smaller, but the quarterly loss grew. Second, food delivery profit is partly offset by Instamart's losses. Third, Instamart's margin is the figure to watch.
Source: Business Standard, 22 October 2026. This is a summary of a news report, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
