Swiggy reported a net loss of Rs 1,092 crore in the second quarter, which narrowed sequentially as strong growth in its quick commerce arm, Instamart, partly offset the impact of continued high investments in the business. However, the loss was wider than Rs 626 crore in Q2 FY25.
Revenue from operations stood at Rs 5,561 crore, up 54.4% year-on-year (YoY) from Rs 3,601 crore.
Key highlights from Swiggy’s Q2 FY26
Swiggy reported EBITDA loss of Rs 798 crore in the second quarter, compared to a loss of Rs 553 crore in the same period last year. Revenue from its quick commerce segment, Instamart, recorded at Rs 980 crore from Rs 490 crore a year ago.
Expenses also shot up to Rs 6,711 crore from Rs 4,309 crore a year ago.
The board will meet on November 7 to consider and approve raising of up to Rs 10,000 crore through a qualified institutional placement (QIP) in one or more tranches, it said in a regulatory filing on Thursday.
Overall, the quick commerce business (Instamart) posted a Rs 849 crore loss for the second quarter, while Swiggy’s overall advertising and sales promotion expenses shot up to Rs 1,039 crore, as against Rs 537 crore a year ago.
“Instamart accelerated its GOV (gross order value) growth to 108 per cent YoY (24.2 per cent QoQ), clocking Rs 7,022 crore. 40 dark-stores were added selectively to take the overall network to 1,102 dark-stores, covering 4.6 million square feet across 128 cities. Average order value increased by 39.7 per cent YoY to reach Rs 697, led by continued traction across Maxxsaver, our basket-building proposition and expansion of non-grocery selection,” Swiggy stated.
During the quarter, the company incorporated a step-down subsidiary, Swiggy lnstamart Private Limited, under Scootsy Logistics Private Limited to house the Instamart business.
