Swiggy slips on profit booking after four-day rally; Q1 loss narrows

Swiggy fell 3.52% to Rs 285.50 on Friday as investors booked profits after the stock rallied 17.70% over the previous four trading sessions.

The company had reported a narrower quarterly loss and strong revenue growth for Q1 FY27 a day earlier. Its consolidated net loss narrowed to Rs 791 crore in Q1 FY27 from Rs 1,197 crore in Q1 FY26. Sequentially, the loss narrowed from Rs 800 crore in Q4 FY26.

Adjusted revenue increased 34.0% YoY and 6.7% QoQ to Rs 7,112 crore, while revenue from operations rose 37.3% YoY and 6.7% QoQ to Rs 6,812 crore.

Adjusted EBITDA loss narrowed to Rs 651 crore in Q1 FY27 from Rs 813 crore in Q1 FY26, while remaining largely unchanged from Rs 652 crore in Q4 FY26.

Finance costs increased to Rs 53 crore from Rs 41 crore a year ago, while depreciation and amortisation expense rose to Rs 298 crore from Rs 288 crore. Share-based payment expenses declined to Rs 173 crore from Rs 265 crore in Q1 FY26.

Food Delivery gross order value (GOV) grew 17.4% YoY to Rs 9,490 crore, while adjusted EBITDA improved by Rs 100 crore YoY to Rs 292 crore. Monthly transacting users rose 17.8% YoY to 19.2 million. Management said temporary LPG supply disruptions at restaurants led to higher order cancellations early in the quarter. Excluding these disruptions, Food Delivery GOV growth would have been around 18% YoY.

The company reiterated its 18-20% Food Delivery GOV growth guidance (excluding Toing), citing continued traction from affordability initiatives.

Quick Commerce GOV increased 39.8% YoY to Rs 7,907 crore. Instamart achieved contribution break-even in May 2026, with contribution margin improving to -0.2% of GOV from -1.9% in the previous quarter. Adjusted EBITDA margin improved to -9.8% from -10.9% in Q4 FY26, while the segment reported a loss of Rs 778 crore. Swiggy added 28 net dark stores during the quarter, taking the total to 1,171 stores across 131 cities, and expects to add around 75 more stores in Q2 FY27.

Out-of-home consumption GOV grew 44.8% YoY, while adjusted EBITDA margin improved to 0.9% of GOV. Budget food delivery platform Toing expanded to 50 cities, with two out of every three new users being new to the platform. Overall monthly transacting users across the platform increased 27.4% YoY to 27.5 million.

During the quarter, Swiggy's board approved a proposal to cap aggregate foreign shareholding at 49.5%, subject to shareholder approval, as part of its plan to qualify as an Indian Owned and Controlled Company (IOCC). The company said IOCC status would enable Instamart to directly own and sell inventory, potentially improving contribution margins by about 80 basis points over time.

Swiggy is an on-demand convenience platform offering food delivery, quick commerce and out-of-home dining services across India.

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