Swiggy reported a consolidated net loss of ₹922 crore for the September quarter of FY27, narrowing from ₹1,092 crore a year earlier, the company said on Thursday.
The revenue from operations rose 36.1 per cent year-on-year to ₹7,571 crore from ₹5,620 crore, it said.
The food delivery and quick-commerce platform's total expenses increased to ₹8,703 crore from ₹6,711 crore in the year-ago quarter, outpacing revenue growth and keeping the company in the red.
The company said its food delivery business continued to improve its profitability. Gross order value (GOV) for the segment grew 17.7 per cent year-on-year to ₹10,054 crore, while adjusted EBITDA increased by ₹101 crore to ₹341 crore. Its adjusted EBITDA margin stood at 3.4 per cent of GOV.
Swiggy's out-of-home consumption business grew 34.9 per cent year-on-year to ₹1,508 crore in GOV and recorded its seventh consecutive quarter of profitability, with an adjusted EBITDA margin of 0.5 per cent of GOV.
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Meanwhile, quick-commerce platform Instamart continued to expand. Its net order value (NOV) grew 31.4 per cent year-on-year and 13.4 per cent sequentially to ₹6,954 crore. Instamart added 69 dark stores during the quarter, taking its total network to 1,240 stores.
Instamart's contribution margin stood at -1 per cent of GOV, improving by 157 basis points year-on-year but declining by 82 basis points sequentially. The business reported a loss of ₹895 crore for the quarter, while its adjusted EBITDA margin improved marginally to -9.7 per cent from -9.8 per cent in the previous quarter.
Commenting on the results, Swiggy Managing Director and Group Chief Executive Officer Sriharsha Majety said, “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.”
He added, “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.”
Majety said the company believes differentiation will determine the winners in the quick-commerce market, with speed and selection becoming “table stakes”. He added that Swiggy views assortment as a curation exercise rather than a volume-driven one, with the aim of enabling consumers to buy better rather than simply offering more.