Swiggy reported 53.9% YoY jump in Q3FY26 revenue from operations to Rs 6,148 crore from Rs 3,993 crore in Q3FY25. However, its net loss widened to Rs 1,065 crore in Q3 FY26 from Rs 799 crore in Q3FY25.
The Q3 total income stood at Rs 6,244 crore, while consolidated adjusted EBITDA loss came in at Rs 712 crore.
Quick commerce and supply chain drive revenue mix
Supply chain and distribution emerged as Swiggy’s largest revenue segment in the quarter, contributing Rs 2,981 crore, up sharply year-on-year. Food delivery contributed Rs 2,039 crore, while quick commerce arm Instamart added Rs 1,016 crore in revenue. Out-of-home consumption contributed Rs 103 crore, and platform innovations Rs 9 crore, the filing said.
Consolidated adjusted revenue, which includes user delivery charges and certain fees, rose 50.8% year-on-year to Rs 6,431 crore, the company said in its shareholder letter.
Food delivery growth hits three-year high
Swiggy’s food delivery gross order value (GOV) rose 20.5% year-on-year to Rs 8,959 crore in Q3, its fastest growth rate in three years. Average monthly transacting users in food delivery grew 22% to 18.1 million, as per the filing.
Adjusted EBITDA for the segment rose to Rs 272 crore, with margins improving to 3% of GOV, the highest in two years, aided by higher order volumes, advertising income and better fleet utilisation. Management reiterated its medium-term GOV growth guidance of 18–20% for the food delivery business.
Instamart doubles GOV, losses remain elevated
Instamart reported GOV of Rs 7,938 crore, up 103% year-on-year, marking its fourth straight quarter of triple-digit growth. Revenue from the segment stood at Rs 1,016 crore. Total orders reached 106.4 million during the quarter, while monthly transacting users rose 82% year-on-year to 12.8 million, according to the filing.
Adjusted EBITDA loss for quick commerce widened to Rs 908 crore, though margin improved sequentially to -11.4%. Contribution margin improved to -2.5%, with the company saying about a quarter of its dark stores are contribution positive.
Average order value rose about 40% year-on-year to Rs 746, helped by a rising share of non-grocery items, which increased to 32.2% of the sales mix from 26.2% in the previous quarter.
Swiggy added 34 dark stores in the quarter, taking the network to 1,136 stores across 131 cities with 4.8 million square feet of active area.
Advertising and delivery costs rise
Total expenses for the quarter rose to Rs 7,298 crore. Advertising and sales promotion spending increased to Rs 1,108 crore from Rs 751 crore a year earlier. According to the filing, delivery and related charges stood at Rs 1,533 crore, while employee benefits expense was Rs 673 crore.
The company also recorded a Rs 10 crore exceptional charge linked to additional gratuity liabilities arising from the implementation of new labour codes. It recovered Rs 31 crore under an employee dishonesty insurance claim related to an earlier embezzlement incident.
Cash position strengthened after QIP
Swiggy closed the quarter with Rs 13,512 crore in cash and cash equivalents. Including proceeds of about Rs 2,400 crore from the sale of its Rapido stake received in January, the proforma cash stands at about Rs 15,911 crore.
During the quarter, the company raised Rs 10,000 crore through a qualified institutional placement, strengthening its balance sheet as it continues to invest in quick commerce and new initiatives.
The company also announced that it will be shifting the company’s registered office in Bengaluru from Embassy Tech Village, Outer Ring Road, to Sumadhura Capitol Towers, K.R. Puram Hobli, effective 1 April 2026.
Swiggy share price
Swiggy’s share price was up 1.17% at the time of market closing on Thursday. The stockdown 17.07% in the last 1 month. Furthermore, the stock price is down 23.56% in 2025.