Swiggy, the food delivery and quick commerce platform, reported its financial results for the first quarter of FY26, showing a significant widening of losses but robust revenue growth.
For the April–June 2025 quarter, Swiggy’s consolidated net loss expanded to ₹1,197 crore, compared to ₹886 crore in the same quarter of the previous year, reflecting a continued increase in expenses related to customer acquisition, marketing, and logistics.
Despite the growing losses, Swiggy’s operating revenue surged by 54% year-on-year, reaching ₹3,875 crore, up from ₹2,505 crore in Q1FY25. The jump in revenue was driven primarily by growth in its food delivery and Instamart (quick commerce) segments.
Revenue Growth Across Segments
Swiggy witnessed strong performance across its major business lines:
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Food delivery business saw higher order volumes and increased average order value.
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Instamart, the company’s grocery and essentials delivery arm, continued to expand rapidly, contributing a notable share to overall revenue.
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Commission income, delivery charges, and advertising revenue on the platform also added to the topline.
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Competitive Landscape and Expense Surge
The widening of losses comes amid intense competition in the food delivery and quick commerce space, with key rival Zomato also expanding aggressively in these verticals.
Swiggy’s total expenses surged due to increased spending on discounts, promotional campaigns, employee benefits, and expansion-related costs, reflecting the company’s growth ambitions across Tier 2 and Tier 3 markets.
Part of a Larger Q1 Results Season
Swiggy’s results were part of a broader earnings season, with over 138 major Indian companies announcing their Q1FY26 results, including Hindustan Unilever, Maruti Suzuki, Adani Enterprises, Coal India, Dabur, Eicher Motors, and others.
Quick Take
Swiggy’s Q1 performance highlights a strong growth trajectory in revenue, led by expanding delivery services and consumer demand. However, the platform continues to report hefty losses, underlining the cost-heavy nature of scaling operations in India’s competitive quick commerce ecosystem. The company’s ability to control costs while maintaining growth will be a key factor in the coming quarters.