Swiggy Reports Q3 Results: Loss Grows to Rs 1,065 Crore Despite Revenue Rise

Swiggy, the prominent food delivery platform based in India, has announced its financial results for the third quarter of the fiscal year 2025-26. The company experienced a substantial rise in its consolidated net loss, which escalated to ₹1,065 crore, compared to ₹799 crore for the same period last year.

Despite the increase in losses, Swiggy reported a significant growth in revenue, with operational income reaching ₹6,148 crore. This figure represents a remarkable increase of 54% year on year, driven by a robust performance in their food delivery segment.

In addition to revenue growth, Swiggy's gross order value (GOV) for its food delivery business saw a year-on-year increase of 20.5%, amounting to ₹8,959 crore. The company’s quick commerce segment also reported a notable performance, with Instamart's GOV rising by an impressive 103% year on year, leading to a total of ₹7,938 crore.

During the quarter under review, the Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) exhibited a loss of ₹782 crore, up from a loss of ₹725 crore in the corresponding quarter of the previous fiscal year. The EBITDA margin decreased to 12.72%, down from 18.16%.

Swiggy has been scaling its operations, adding 34 dark stores to its network, bringing the total to 1,136, which covers a significant area across 131 cities. The company aims to enhance its market presence and engage more users, as reflected in its commitment to expanding its offerings in quick commerce.

Sriharsha Majety, Managing Director and Group Chief Executive Officer of Swiggy, expressed optimism about the company's performance, stating, "Swiggy continues to accelerate user growth and gross order value in food delivery, defying broader scepticism around a sector slowdown while significantly improving our operating margins."

Looking ahead, Swiggy remains focused on deepening its wallet penetration and expanding its product offerings across various categories to enhance customer engagement and order value.

In terms of advertising efforts, the company's expenditure surged by 47.54% to ₹1,108 crore in the same quarter, highlighting Swiggy's aggressive marketing strategy amidst growing competition in the food and quick commerce sectors. Swiggy’s ongoing investments in both brand and operational growth underscore its aspiration to strengthen and maintain its position in the rapidly evolving marketplace.

As the company navigates these challenges, analysts await further developments to assess how Swiggy will manage its losses while driving revenue growth and customer engagement in the forthcoming quarters.