Swiggy Q2 net loss narrows to Rs 922 crore, revenue rises 36% YoY
Consolidated revenue from operations increased 36.1% year on year and grew 11.1% sequentially to Rs 7,571 crore in Q2 FY27.
Total expenses increased 29.7% year on year to Rs 8,703 crore. Advertising and sales promotion expenses rose 24.9% YoY to Rs 1,298 crore from Rs 1,039 crore. Employee benefits expense declined 2.0% YoY to Rs 676 crore from Rs 690 crore. Delivery and related charges rose 32.9% YoY to Rs 1,895 crore in Q2 FY27 from Rs 1,426 crore in Q2 FY26. Depreciation and amortisation expense rose 1.3% YoY to Rs 308 crore from Rs 304 crore.
Swiggy?s consolidated adjusted revenue grew 33.8% year on year to Rs 7,909 crore, while platform average monthly transacting users increased 21% to 27.8 million. Consolidated adjusted EBITDA stood at a loss of Rs 760 crore, down Rs 64 crore year on year. The B2C adjusted EBITDA margin improved by 99 basis points year on year to -2.6% of gross order value (GOV).
Food delivery
Food delivery GOV increased 17.7% year on year and 5.9% quarter on quarter to Rs 10,054 crore. The company said the business recorded growth of more than 20% year on year in September. Monthly transacting users rose 15.2% year on year to 19.8 million.
Food delivery adjusted EBITDA increased by Rs 101 crore year on year to Rs 341 crore, up Rs 49 crore sequentially. Adjusted EBITDA margin improved by 58 basis points year on year and 32 basis points quarter on quarter to 3.4% of GOV.
Swiggy continued to expand Toing, its affordable-meal standalone app, which is operational in more than 50 cities. The company said two out of three new Toing users were new to the food delivery category and that the offering could help lift combined food delivery marketplace (Swiggy+Toing) growth to 25-30%. The annual guidance of 18-20% for Food delivery (ex-Toing) remains unchanged.
Quick commerce
Quick commerce GOV and net order value (NOV) continued to expand during the quarter. The company?s key metrics reported Instamart GOV of Rs 9,230 crore and NOV of Rs 6,594 crore, with sequential growth of 16.7% and 13.4%, respectively.
Instamart?s contribution margin improved by 157 basis points year on year to -1% of GOV, although it declined 82 basis points sequentially. Adjusted EBITDA margin improved marginally to -9.7% from -9.8% in Q1 FY27, while the adjusted EBITDA loss stood at Rs 895 crore.
Instamart added 69 dark stores during the quarter, matching the total number added over the previous three quarters. Its network reached 1,240 dark stores across 5.2 million square feet, up 13.3% year on year.
Out-of-home consumption
Out-of-home consumption GOV grew 34.9% year on year to Rs 1,508 crore. The business recorded its seventh consecutive profitable quarter, with adjusted EBITDA margin at 0.5% of GOV.
Swiggy said its strategy remains focused on strengthening differentiation across businesses. Managing director and group CEO Sriharsha Majety said food delivery continued to generate the company?s highest profits and margins, while Toing was intended to support category growth. In quick commerce, the company said it had accelerated growth as guided and received approvals to qualify as an Indian-owned and controlled company, with the transition underway.
Swiggy, founded in 2014, operates food delivery services covering more than 2.7 lakh restaurants across over 750 cities. Its Instamart quick-commerce business operates in 133 cities across more than 20 categories. The company also offers dining and event-related services through Dineout and Swiggy Scenes, alongside newer offerings including Toing and Crew.
Swiggy shares fell 5.48% to settle at Rs 211.40 on the NSE.
Powered by Capital Market - Live News