Swiggy Limited, the Bengaluru-headquartered food delivery and quick commerce firm, reported a significant increase in net losses for the first quarter of FY26.
For the April–June period, the company posted a net loss of ₹1,197 crore, nearly double the ₹611 crore loss recorded in the same quarter of the previous fiscal year.
In a sequence, Swiggy's losses also increased to ₹1,081 crore in the March 2025 quarter (Q4 FY25), according to the company's regulatory filing.
The sharp increase in losses was primarily propelled by rising expenses in its quick commerce business, Instamart. The unit's EBIT (earnings before interest and taxes) loss jumped to ₹797 crore during Q1 FY26 from ₹379 crore in the year-earlier quarter.
Swiggy's overall EBITDA loss also increased sharply to ₹954 crore for the quarter from ₹544 crore in Q1 FY25.
Even as the losses expanded, the company reported robust top-line growth. Operating revenue grew 54% year-on-year to ₹4,961 crore from ₹3,222 crore in the corresponding quarter last year.
The food delivery business added ₹1,799 crore to the topline from ₹1,515 crore, while Instamart revenue doubled more than twice to ₹806 crore from ₹374 crore in Q1 FY25.
Operational metrics painted a mixed picture. As the quick commerce business grappled with higher expenses, the food delivery business indicated efficiency, as the EBIT jumped to ₹202 crore from ₹67 crore in the same quarter last year.
But trouble remained in supply chain logistics, distribution network, and platform building, which continued to hurt the company's bottom line.
On the user demand side, Gross Order Value (GOV) across Swiggy's consumer-facing businesses increased 45% YoY to ₹14,797 crore. The GOV from food delivery increased by 18.8% to ₹8,086 crore, and quick commerce grew 108% to ₹5,655 crore.
At the stock market, Swiggy's shares rose 0.7% to close at ₹403.95 on Thursday—just above its IPO price of ₹390. Nevertheless, the stock has fallen 25% year-to-date in calendar 2025.
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