Food and grocery delivery platform Swiggy on Thursday reported a 15.6 per cent year-on-year decline in its net loss to ₹922 crore for the September quarter, from ₹1,092 crore a year earlier.
The Bengaluru-based company had posted a loss of ₹791 crore in the previous quarter.
Revenue from operations rose 36 per cent year-on-year to ₹7,571 crore in the second quarter of the 2026-27 financial year, compared with ₹5,561 crore a year earlier. Revenue stood at ₹6,812 crore in the previous quarter.
Swiggy's total expenses rose nearly 30 per cent year-on-year to ₹8,703 crore in the quarter ended September, from ₹6,711 crore a year earlier. Expenses stood at ₹7,813 crore in the preceding quarter.
"Our food delivery business delivered its highest-ever profits and margins while we continue to unlock new category growth through Toing, our standalone offering for affordable meals,” said Sriharsha Majety, managing director and group chief executive officer, Swiggy.
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Gross order value (GOV) of the food delivery business grew 17.7 per cent year-on-year and 5.9 per cent quarter-on-quarter to ₹10,054 crore, the company said in a press release. Food delivery monthly transacting users rose 15.2 per cent year-on-year to 19.8 million. The segment's adjusted EBITDA increased by ₹101 crore year-on-year to ₹341 crore, with an adjusted EBITDA margin of 3.4 per cent of GOV, up 58 basis points.
Toing, Swiggy's standalone app for affordable meals, operates in more than 50 cities, and two out of three new users on Toing were new to the food delivery category, the company said.
Instamart's GOV grew 16.7 per cent quarter-on-quarter to ₹9,230 crore. Net order value (NOV) grew 13.4 per cent quarter-on-quarter and 31.4 per cent year-on-year to ₹6,594 crore.
The company added 69 dark stores during the quarter, taking the total to 1,240 stores covering 5.2 million sq ft, up 13.3 per cent year-on-year. Contribution stood at -1.0 per cent of GOV, up 157 basis points year-on-year and down 82 basis points quarter-on-quarter.
The quick-commerce business's adjusted EBITDA margin improved to -9.7 per cent from -9.8 per cent in the previous quarter, with an overall loss of ₹895 crore for the quarter.
The out-of-home consumption business's GOV grew 34.9 per cent year-on-year to ₹1,508 crore, and it was profitable for a seventh consecutive quarter, with margins at 0.5 per cent of GOV.
"In quick commerce, we delivered accelerated growth as guided and obtained necessary approvals to qualify as an Indian-owned and -controlled company," said Majety. “We believe that differentiation will decide winners with speed and selection becoming table stakes. We see assortment as a curation game rather than a volume game, and our aim is to enable consumers to buy better, not just offer more.”
In comparison, Eternal, the parent company of Zomato, posted a 92 per cent year-on-year increase in net profit to ₹125 crore for the September quarter, while its revenue from operations rose 78 per cent to ₹24,138 crore.