Swiggy, the Bengaluru-based food delivery giant, reported a sharp rise in its net loss for the Q1 of FY26. The company’s loss widened 96 percent year-on-year to Rs 1,197 crore for the April-June period, up from Rs 611 crore in the same quarter last year. The sequential loss also increased from Rs 1,081 crore recorded in the March quarter.
Despite the widening loss, Swiggy posted strong revenue growth. Revenue from operations climbed 54 percent year-on-year to Rs 4,961 crore, boosted by robust performance in both its food delivery and quick commerce vertical, Instamart.
Swiggy Q1 FY26 Loss
The company’s adjusted EBITDA loss widened to Rs 813 crore, more than doubling from Rs 348 crore a year earlier. Its B2C adjusted EBITDA margin stood at -4.7 percent, a slight improvement from -4.82 percent in the March quarter but still 204 basis points lower compared to the previous year.
Swiggy’s food delivery gross order value (GOV) increased 18.8 percent year-on-year to Rs 8,086 crore. Revenue from the segment rose nearly 20 percent to Rs 1,800 crore. Average monthly transacting users (MTUs) hit 16.3 million, marking the highest addition in two years with a net gain of 1.2 million users sequentially.
Instamart Drives Growth
Instamart, Swiggy’s quick commerce arm, emerged as a key growth driver. Its GOV more than doubled year-on-year to Rs 5,655 crore, with a 21.1 percent sequential growth. The average order value jumped 25.6 percent year-on-year to Rs 612, supported by expanded non-grocery options and the popularity of Maxxsaver, a bundled savings feature.
The division’s losses stood at Rs 896 crore for the quarter, but contribution margins improved to -4.6 percent, up 97 basis points sequentially. Adjusted EBITDA margin rose to -15.8 percent from -18.0 percent. Swiggy also expanded its network by adding 41 dark stores, bringing its total count to 1,062 across 127 cities.
Quick Commerce in India
Quick commerce is gaining momentum in India, with rivals competing aggressively to scale their operations. Swiggy’s footprint now spans 4.3 million square feet, while rival Zomato added 243 dark stores in the same period, reaching 1,544 stores.
Swiggy’s Out-of-Home vertical continued to perform well, with GOV rising 61 percent year-on-year and sustaining profitability for the second consecutive quarter. Total company expenses climbed 60 percent to Rs 6,244 crore. CEO Sriharsha Majety noted that while losses have peaked in quick commerce, Swiggy plans to balance investments with a focus on scale-led profitability.
