Swiggy’s revenue soared 54% year-on-year to ₹5,561 crore in the second quarter of FY26, even as the food delivery major widened its losses amid higher spending on advertising and promotions. The company posted a consolidated loss of ₹1,092 crore for the quarter ended September 2025, compared with ₹626 crore a year earlier, according to its latest regulatory filing.
The Bengaluru-based firm, which competes with Zomato, saw its total expenses climb 56% to ₹6,711 crore. Advertising and sales promotion costs nearly doubled to ₹1,039 crore, while delivery-related expenses rose 30% to ₹1,426 crore. Employee costs stood at ₹690 crore and finance costs more than doubled to ₹48 crore.
Despite the loss, Swiggy’s food delivery vertical maintained profitability at the adjusted EBITDA level, supported by a 19% jump in gross order value (GOV) to ₹8,542 crore. Monthly transacting users rose 34% year-on-year to 22.9 million, with more than one-third availing multiple services. Adjusted EBITDA margin for food delivery improved to 2.8% of GOV, up 125 basis points from a year ago.
Instamart, Swiggy’s quick-commerce business, posted robust growth with GOV up 108% year-on-year and 24% sequentially to ₹7,022 crore. Average order value climbed 40% to ₹697 as the network expanded to 1,102 dark stores across 128 cities. Contribution margin improved 200 basis points quarter-on-quarter to -2.6%, and adjusted EBITDA loss narrowed to ₹849 crore.
Swiggy’s out-of-home consumption segment also remained profitable, with GOV up 52% year-on-year and an EBITDA margin of 0.5% of GOV.
Managing Director and Group CEO Sriharsha Majety said Swiggy delivered its strongest order growth in two years, driven by innovations like Bolt, 99 Store, Deskeats, and health-focused offerings. The board will meet on November 7 to consider raising up to ₹10,000 crore through public or private offerings, including QIPs.
