Food and grocery delivery platform Swiggy has narrowed its net loss by 15.6% year on year (YoY) in the second quarter of FY27. Its revenue rose 36% during the same period.
The company reported a loss of Rs 922 crore in Q2 of FY27, compared with a loss of Rs 1,092 in the same period a year ago. Revenue for the quarter was Rs 7,571 crore, compared with Rs 5,561 crore a year ago.
On the second quarter performance of the company, Swiggy MD & Group CEO Sriharsha Majety said, in a statement, “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.
"In quick commerce, we delivered accelerated growth as guided and obtained necessary approvals to qualify as an Indian owned and controlled company - an important milestone for the business with the transition underway."
The gross order value (GOV) of the food delivery business grew 17.7% YoY to touch Rs 10,054 crore for the second quarter. The adjusted EBITDA for the quarter was Rs 341 crore, an improvement of Rs 101 crore over the last one year.
Swiggy's quick commerce business Instamart saw net order value grow 31.4% YoY to reach Rs 6,954 crore. Instamart added 69 darkstores in the quarter, equal to the cumulative additions of the last three quarters, bringing the total network to 1,240 stores covering 5.2 million sq ft.
Instamart's revenue for the second quarter was Rs 1,306 crore, up from Rs 980 crore in the corresponding year-ago period. However, it clocked a loss of Rs 764 crore, compared with Rs 739 crore a year ago.
In a shareholder letter, Majety said, “This was a quarter in which our businesses grew faster and our direction became clearer. At our first ever Capital Markets Day held on 6-Aug-26, we shared our long-term aspiration to build towards Rs 10,000 crore of adjusted EBITDA by FY31, at GOV of over Rs 2.5 lakh crore with ~4% margins.”
“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," said Majety.
In comparison, Swiggy’s rival Eternal, which operates Zomato and Blinkit, reported a net profit of Rs 125 crore and a revenue of Rs 24,138 crore for the second quarter of FY27.