Swiggy Q4FY26: Net Loss Narrows, Revenue Rises 45% YoY

Online food delivery platform Swiggy on Friday, May 8, reported a narrower consolidated loss of ₹800 crore for Q4FY26, compared with ₹1,081 crore in the same quarter last year and ₹1,065 crore in the preceding December quarter.

The company’s revenue from operations rose 45% year-on-year (YoY) to ₹6,383 crore during the March quarter, supported by continued momentum in its food delivery and quick commerce businesses.

Swiggy said its platform monthly transacting users (MTUs) grew 27.2% YoY to 25.2 million, reflecting higher user engagement across services.

Food Delivery Gains Momentum

Swiggy’s food delivery business delivered one of its strongest growth phases in recent years. Gross order value (GOV) for the segment rose 22.6% YoY to ₹9,005 crore, while food delivery MTUs increased 21% to 18.3 million users.

The company’s adjusted EBITDA margin in food delivery improved to 3.3% of GOV, marking a lifetime high for the segment.

Commenting on the performance, Sriharsha Majety, MD & Group CEO of Swiggy, said, “Food delivery has grown at its strongest pace in nearly four years, crossing INR 1,000 Cr in annual adjusted EBITDA and defying scepticism around a sector slowdown, with meaningfully better margins than a year ago. Out of home continues to be a profitable and growing part of the business.”

Swiggy’s out-of-home consumption business recorded 43% YoY growth in GOV and delivered its first full year of profitability in FY26.

Instamart Growth Remains Strong

Swiggy’s quick commerce platform Instamart posted 68.8% YoY growth in GOV at ₹7,881 crore during the quarter.

The company expanded selectively by adding seven dark stores, taking its total network to 1,143 stores across 129 cities. Average order value rose 32.8% year-on-year to ₹700, supported by a growing non-grocery mix and larger basket sizes.

Speaking about the business outlook, Majety said, “In quick commerce, the next phase will be defined by anticipating consumer needs, not merely fulfilling them. Unit economics continue to improve quarter on quarter, and we remain on track for contribution margin breakeven in line with our guidance. The strong balance sheet gives us room to be disciplined and deliberate as we enter FY27.”

Contribution margin improved sequentially to -1.8%, while the monthly contribution margin improved further to -1.1% in March 2026. However, the quick commerce business reported an adjusted EBITDA loss of ₹858 crore during the quarter.