Swiggy revenue grows 36% as losses narrow

Research Analyst: UJVIN NEVATIA (PROPRIETOR: NEVAT INVESTMENTS) | SEBI Registration No.: INH100009628 Swiggy Limited (

) reported a consolidated net loss of ₹922 crore in Q2 FY27, narrowing 15.6% year-on-year from ₹1,092 crore. Revenue from operations rose 36.1% to ₹7,571 crore, exceeding market estimates. However, the net loss was higher than expected. What happened? EBITDA loss narrowed to ₹770 crore from ₹798 crore a year earlier, but remained above the estimated ₹595 crore loss. Food delivery revenue grew 22% to ₹2,338 crore, while segment EBIT rose 39% to ₹349 crore. Quick-commerce revenue increased 33% to ₹1,306 crore, but its EBIT loss widened to ₹764 crore from ₹739 crore. Why does it matter? Food delivery is showing improving profitability, while Instamart continues to absorb costs as Swiggy invests in quick-commerce growth. The contrasting segment performance highlights the challenge of expanding rapidly while improving consolidated profitability. My view Revenue growth remains strong and the year-on-year loss has narrowed. However, the larger-than-expected consolidated and EBITDA losses show that the path to overall profitability remains challenging. Food delivery's improving contribution is encouraging, but quick-commerce economics need close monitoring. What I am watching next I would track food delivery margins, Instamart's losses, overall operating costs and whether revenue growth translates into sustained improvement in consolidated profitability. No Recommendations Source: NDTV Profit Disclosure: I, my entity, associates or relatives do not have any holding, position or other material interest in Swiggy Limited.