Results · Commerce & Consumer Brands

Swiggy narrows loss 34% in Q1 FY27

By Startup Enthusiast · 24 July 2026

What they do

Swiggy operates food delivery, quick commerce (Instamart), and out-of-home dining

Revenue rose 37% to Rs 6,812 crore; net loss fell 34% to Rs 791 crore

Instamart achieved contribution break-even in May 2026; food delivery EBITDA margin improved to 3.1%

Swiggy reported its Q1 FY27 earnings for the quarter ended 30 June 2026.
Revenue from operations rose 37% year-on-year to Rs 6,812 crore.
Net loss narrowed 34% to Rs 791 crore from Rs 1,197 crore a year ago.
Total income was Rs 7,023 crore.
Total expenses grew 25% to Rs 7,813 crore.
Adjusted EBITDA loss improved to Rs 651 crore from Rs 813 crore.
Food delivery GOV reached Rs 9,490 crore, up 17.4% year-on-year.
Instamart GOV grew 39.8% to Rs 7,907 crore.

Instamart achieved contribution break-even in May 2026, a key milestone.
Instamart contribution margin improved 440 bps year-on-year to -0.2% of GOV.
Swiggy expects Instamart contribution margin to stay between 0% and -1% while accelerating growth.
Instamart targets adjusted EBITDA breakeven when quarterly orders reach 250-300 million (currently 114.5 million).

Swiggy operates food delivery, quick commerce (Instamart), and out-of-home dining (Dineout).
Food delivery had 19.2 million monthly transacting users, up 17.8% year-on-year.
Instamart had 13.5 million monthly transacting users across 1,171 dark stores in 131 cities.
Instamart active dark-store space was 4.92 million sq ft, up 14.6% year-on-year.
Out-of-Home Consumption GOV was Rs 1,529 crore, up 44.8% year-on-year.
Platform Innovations (Toing) revenue was Rs 51 crore; it expanded to about 50 cities in Q1.
Swiggy focuses on proprietary brands, the 'Switch to Better' programme, and private label Noice.

Swiggy expects Instamart contribution margin to be range-bound 0% to -1% over the next two quarters while accelerating growth.
Instamart targets adjusted EBITDA breakeven when quarterly orders reach 250-300 million.