Swiggy’s Q2 loss narrows to ₹922 crore as revenue rises

Swiggy reported a consolidated loss of ₹922 crore for the July-September quarter of FY27, down from ₹1,092 crore a year earlier, as revenue from operations rose 36.1% to ₹7,571 crore. The company remained loss-making, with total expenses increasing to ₹8,703 crore from ₹6,711 crore in the year-earlier quarter. Food delivery continued to provide the strongest profitability. Gross order value, or GOV, for the segment increased 17.7% year on year to ₹10,054 crore, while adjusted EBITDA rose to ₹341 crore from ₹240 crore. Its adjusted EBITDA margin reached 3.4% of GOV, compared with 2.8% a year earlier. Instamart, Swiggy’s quick-commerce operation, recorded an adjusted EBITDA loss of ₹895 crore, widening from ₹849 crore in the same quarter last year and ₹778 crore in the June quarter. Its contribution margin was reported at about negative 1% of GOV, down 82 basis points sequentially. The company added 69 dark stores during the quarter, bringing its network to 1,240. Reports gave different figures for Instamart’s net order value, or NOV, in the quarter: ₹6,594 crore and ₹6,954 crore. Both described sequential growth of 13.4%, while the lower figure was reported as rising 31.4% year...