Swiggy Q1 loss narrows to Rs 791 crore
Food delivery and quick commerce major Swiggy on Thursday reported a net loss of Rs 791 crore on a consolidated basis in the first quarter ended June 30, 2026. The company’s net loss narrowed in Q1 FY27 from Rs 1,197 crore a year ago, driven by strong revenue growth, according to a stock exchange filing.
During the quarter under review, Swiggy’s revenue from operations increased to Rs 6,812 crore, from Rs 4,961 crore a year ago. Total expenses increased to Rs 7,813 crore in the June quarter from Rs 6,244 crore a year ago, driven by advertising and sales promotion, and delivery and related charges, among other costs.
In a letter to shareholders, Swiggy Co-founder, MD & Group CEO Sriharsha Majety said the company’s quick commerce arm Instamart hit break-even contribution target in May 2026 with an overall contribution for the quarter at -0.2 per cent of gross order value (GOV), while Adjusted Ebitda losses for the segment narrowed to Rs 778 crore.
He shared that an Indian-Owned and Controlled Company (IOCC) status will allow Instamart to directly own and sell inventory, in addition to running its marketplace business and has the potential to add about 80 bps in its contribution margin while allowing Swiggy higher flexibility and control in the day-to-day operations.
The proposal shall be subject to shareholders’ approval at the 13th AGM slated for August 18, 2026, Majety added.
“We expect the transition to complete over a period of 2-4 quarters post-approval. We do not expect any disruption to the customer experience or to our supply relationships during this period, and our teams have been preparing the operational groundwork in parallel so that we are ready to move in a seamless fashion once we receive the necessary approvals,” Majety stated.
