Swiggy Reports Q2 FY27 Net Loss of ₹922 Crore
Swiggy reported a consolidated net loss of ₹922 crore for Q2 FY27, driven by widening losses in its Instamart quick-commerce arm despite strong revenue growth.
Swiggy Ltd reported a consolidated net loss of ₹922 crore for the second quarter of FY27, ending September 30, 2026. While the loss narrowed from ₹1,092 crore in the same period last year, the result missed analyst expectations of ₹792 crore. Revenue from operations grew 36.1% year-on-year to ₹7,571 crore, exceeding estimates.
The company's core food delivery segment achieved a record adjusted EBITDA of ₹341 crore. In contrast, the quick-commerce arm, Instamart, saw adjusted EBITDA losses widen to ₹895 crore from ₹849 crore the previous year. Swiggy attributed these losses to aggressive spending on customer acquisition, pricing, and the addition of 69 dark stores, bringing its total network to 1,240 stores across 133 cities. Instamart's net order value rose 34.8% to ₹6,594 crore.
To combat competition from Blinkit, Amazon, and Flipkart, Swiggy is transitioning to an inventory-led model and leveraging private labels such as Noice and Nectr. The company believes Instamart losses peaked in Q2 and expects a sequential margin improvement of 100 basis points in the December quarter.
In organizational changes, Swiggy appointed Nandita Sinha as CEO of Instamart effective August 3, 2026. The company also completed the sale of its B2B distribution business, Lynks Logistics, to Trustroot Internet Pvt Ltd for ₹500 crore.
