Swiggy presented its results for the second quarter of the fiscal year 27. Consolidated operating revenue reached 7,571 crore rupees for the period from July to September, which is higher than the 5,561 crore rupees recorded in the same quarter last year.
For the September quarter of FY27, the company reported a consolidated net loss of 922 crore rupees, a decrease compared to 1,092 crore rupees the previous year. Meanwhile, revenue from operations increased by 36.1 percent year-over-year, reaching 7,571 crore rupees, as the company announced on Thursday.
Total expenses for the food and quick commerce delivery platform rose to 8,703 crore rupees from 6,711 crore rupees in the quarter a year ago, exceeding the revenue growth rate and leaving the company in the red. Total income grew to 7,783 crore rupees from 5,620 crore rupees.
The food delivery segment showed improved profitability. Gross Order Value (GOV) for this vertical grew by 17.7 percent year-over-year to 10,054 crore rupees, and adjusted EBITDA increased by 101 crore rupees to 341 crore rupees. The adjusted EBITDA margin in this segment stood at 3.4 percent of GOV.
The dine-out business demonstrated a 34.9 percent year-over-year growth in GOV, reaching 1,508 crore rupees, and achieved profitability for the seventh consecutive quarter, with an adjusted EBITDA margin of 0.5 percent of GOV.
Meanwhile, the quick commerce platform Instamart continued to expand. Its Net Order Value (NOV) increased by 31.4 percent year-over-year and by 13.4 percent sequentially, reaching 6,954 crore rupees. In the quarter, Instamart added 69 dark stores, bringing the total number of stores to 1,240.
Instamart's contribution margin was -1 percent of GOV, an improvement of 157 basis points year-over-year but a decline of 82 basis points sequentially. The business reported a loss of 895 crore rupees for the quarter, while its adjusted EBITDA margin slightly improved to -9.7 percent from -9.8 percent in the previous quarter.
Commenting on these results, Swiggy's Managing Director and Group CEO, Sriharsha Majety, stated: 'Our food delivery business delivered the highest profit and margin in its history, while we continue to unlock new category growth through Toing, our proprietary offering of affordable meals.'
He added that accelerated expansion had been achieved in the quick commerce space, as planned, and the necessary approval had been obtained to qualify as an India-owned and controlled company—a significant milestone for the business, the transition of which is underway.
Majety noted that the company believes differentiation will determine the winners in the quick commerce market, where speed and selection are becoming 'basic prerequisites'. He also emphasized that Swiggy views assortment as a curation exercise rather than a volume increase, aiming to allow consumers to buy better, not just offer more.
