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Swiggy Results: Latest Quarterly Results & Analysis

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Swiggy Ltd. 30 Oct 2025 16:45 PM
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Q2FY26 Quarterly Result Announced for Swiggy Ltd.

Internet & Catalogue Retail company Swiggy announced Q2FY26 results

Financial Highlights:

  • Food delivery GOV grew 18.8% YoY; Adjusted EBITDA up 2.1x YoY to Rs 240 crore
  • Swiggy Platform Gross Order Value rose ~48% YoY to clock Rs 16,683 crore
  • Consolidated Adjusted EBITDA loss improved by Rs 118 crore QoQ, to a loss of Rs 695 crore
  • Instamart GOV growth rose to 108% YoY and 24% QoQ led by a 40% YoY jump on AOV, Contribution margins improved by ~200 bps QoQ to -2.6%, while Adjusted EBITDA loss shrunk to Rs 849 crore
  • Out of Home Consumption segment continued profitable trajectory with 52% YoY GOV growth, and Adjusted EBITDA margins stood at 0.5% of GOV
  • Platform’s Average MTU increased 34% YoY to reach 22.9 million; with 36% of all users utilizing more than one service on the platform
  • Overall, Quick Commerce posted a Rs 849 crore loss for the quarter, and Adjusted EBITDA margin improved to -12.1% from -15.8% in Q1.

Sriharsha Majety, MD & Group CEO, Swiggy, said “Swiggy’s Food delivery business delivered another quarter of robust growth and improved profitability, with the double digit YoY order growth at the highest in 2 years. This was led by acceleration in user-growth on the back of new propositions like Bolt, 99-Store, Deskeats and Health-focused curations; all aimed at covering the entire breadth of user expectations. Instamart made giant strides in catering to all purchase-missions through Maxxsaver (grocery) and Quick India movement (non-grocery), driving up AOV 40% YoY. A ~200 bps QoQ Contribution margin improvement showcases our commitment to drive scale-led, sustainable and profitable growth in Quick-commerce, led by best-in-class speed and selection."

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Internet & Catalogue Retail company Swiggy announced Q1FY26 results

  • Platform Gross Order Value (B2C GOV) rose ~45% YoY to clock Rs 14,797 crore; Consolidated Adjusted EBITDA loss increased to Rs 813 crore.
  • Food delivery GOV grew 18.8% YoY; Adjusted EBITDA margin contracted to 2.4% of GOV, led by seasonal investments into delivery partner availability and impact of annual appraisals.
  • Instamart GOV growth rose to 108% YoY and 21% QoQ led by a 16% jump on AOV, Contribution margins improved by ~100 bps QoQ to -4.6%, while Adjusted EBITDA margin improved to -15.8%.
  • Out of Home Consumption segment continued profitable trajectory with 61% YoY GOV growth, and Adjusted EBITDA margins rising to 0.5% of GOV.
  • Platform’s Average MTU increased 35% YoY to reach 21.6 million; with 35% of all users utilizing more than one service on the platform.

Sriharsha Majety, MD & Group CEO, Swiggy, said: “Swiggy’s Food delivery business continues to deliver robust growth, while innovating to create new customer propositions which can open up the market further. Bolt and 99-store are efforts to ensure that we keep challenging the status quo, and help our restaurant partners garner new users and incremental consumption. Instamart witnessed a massive leap in AOV led by assortment expansion and Maxxsaver adoption. Focus has been on agile and calibrated network expansion; and improving wallet-share by increasing basket-size which is one of the prime determinants of long-term profitability. We have moved past the Mar-25 peak of losses in Quick-commerce, but amidst significant competition we will modulate investments to ensure that we drive the business towards scale-led profitability."

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Internet & Catalogue Retail company Swiggy announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Platform Gross Order Value (B2C GOV) rose ~40% YoY to clock Rs 12,888 crore; Consolidated Adjusted EBITDA loss increased to Rs 732 crore due to significant growth investments in Quick-commerce
  • Food delivery GOV grew 17.6% YoY; Adjusted EBITDA margins improved further to 2.9% of GOV, up from 0.5% a year ago
  • Instamart GOV growth rose to 101% YoY; Added 316 darkstores (greater than number of darkstores cumulatively added over last 8 quarters) and expanded service to 124 cities
  • Out of Home Consumption segment turned profitable with 42% YoY GOV growth, and Adjusted EBITDA margins rising to 0.3% of GOV
  • Platform’s Average MTU increased 35% YoY to reach 19.8 million; with 35% of all users utilizing more than one service on the platform

FY25 Financial Highlights:

  • Revenue from operations for FY25 stood at Rs 15,622.9 crore compared to Rs 11,634.3 crore for FY24
  • PBT for FY25 stood at Rs -3,116.8 crore compared to Rs -2,350.2 for FY24
  • PAT for FY25 stood at Rs -2,350.2 crore compared to Rs -2,255.9 for FY24

Sriharsha Majety, MD & Group CEO, Swiggy, said “FY25 was a year of many firsts for Swiggy. We launched multiple new apps, across Instamart, Snacc and recently, Pyng; all of which are aimed at opening up new user-segments and markets. Our Food delivery engine delivered best-ever results across innovation and execution, driving category-leading growth and rising profitability in lockstep. Quick-commerce is in a phase of rapid expansion and heightened competitive intensity, for which we have ramped-up investments aimed at market expansion (Megapods), reach (1000 stores across 124 cities) and differentiation (Maxxsaver). Our Out of Home Consumption business turned profitable in Q4, within just 2 years of its integration. Overall, we remain focused on growth, on the back of delivering unparalleled convenience to consumers.”

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Internet & Catalogue Retail company Swiggy announced Q3FY25 results

  • Swiggy’s Food Delivery business Gross Order Value (GOV) grew 19.2% YoY to Rs 7,436 crore.
  • Adjusted EBITDA grew 63.7% QoQ to Rs 184 crore, delivering a 2.5% margin, up from 0.3% a year ago.
  • Swiggy Instamart reported an 88% YoY (15.5% QoQ) rise in GOV to Rs 3,907 crore.
  • Average order value increased by 14% YoY to Rs 534 driven by greater selection and increased consumer salience.

Sriharsha Majety, MD & Group CEO, Swiggy, said: “We continued our focus on creating segmented oerings for the consumer during the festive quarter, which we believe will open up more consumption occasions. In recent months, we've introduced Bolt and Snacc (10-minute food delivery), expanded into new categories within Quick-Commerce, and plan to oer an even greater assortment. We've also launched Swiggy Scenes focused on restaurant event reservations; and introduced One BLCK, the premium tier of our Swiggy One subscription program. We delivered higher YoY growth across all 3 of our primary businesses during Q3, which accelerated B2C GOV growth to 38% YoY. The secular expansion in Food delivery margins and cashow generation is balanced by growth investments being made in Quick-commerce including darkstores expansion and marketing, amidst high competitive intensity in the near term. With this thrust, Instamart added another 86 stores in January 2025, and has grown MTUs to 9 million ( 2 million).”

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