Food delivery and quick-commerce major Swiggy reported that its consolidated net loss narrowed 15.6% year-on-year to ₹922 crore in Q2 FY27 (July–September), from ₹1,092 crore a year earlier, in results approved by its board on October 22, 2026. Revenue from operations climbed 36% to ₹7,571 crore, the latest milestone in the startup funding in India news cycle showing listed new-age companies tightening their path to profitability.
Food delivery posts its best quarter yet
Swiggy's core food delivery business delivered what the company called its highest-ever profits and margins. Gross order value grew 17.7% year-on-year to ₹10,054 crore, while adjusted EBITDA rose ₹101 crore year-on-year to ₹341 crore, at a margin of 3.4% of GOV — up 58 basis points. Monthly transacting users rose 15.2% to 19.8 million. MD and Group CEO Sriharsha Majety also flagged growth in new categories through Toing, Swiggy's standalone platform for affordable meals.
Instamart growth stays expensive
The quick-commerce arm, Instamart, kept expanding: net order value rose 31.4% year-on-year to ₹6,954 crore. But losses remain heavy — consolidated adjusted EBITDA loss widened sequentially to ₹760 crore, as rapid expansion in quick commerce took a toll on the bottom line. Total expenses rose nearly 30% year-on-year to ₹8,703 crore, while combined gross order value across food delivery, quick commerce and dining hit ₹20,793 crore, up 24.6% year-on-year.
Why it matters for founders
Swiggy's quarter is a textbook dual-engine story: a profitable core funding an expensive growth bet. For founders, the lesson is sequencing — prove the core business can throw off cash (Swiggy's food delivery did) before scaling the loss-making frontier. Investors reward that discipline far more than pure growth at any cost.