Home / Business and Economy / Swiggy's Losses Balloon to ₹1,197 Crore as It Scales Across Verticals
Swiggy's Losses Balloon to ₹1,197 Crore as It Scales Across Verticals
31 Jul
Summary
- Swiggy's net losses widen to ₹1,197 crore in Q1 FY26
- Revenue from operations rises 54% year-on-year to ₹4,961 crore
- Food delivery segment remains profitable, but quick commerce sees steep losses
In the first quarter of the fiscal year 2026, the food delivery platform Swiggy has reported a significant widening of its net losses to ₹1,197 crore, compared to ₹611 crore in the same period a year earlier. This increase in losses is attributed to the company's focus on scale-driven growth across its various verticals.
Despite the higher losses, Swiggy's revenue from operations rose by 54% year-on-year to ₹4,961 crore. The company's management has reiterated its commitment to long-term sustainable profitability, with Chief Executive Officer Sriharsha Majety stating that the investments are aligned with Swiggy's vision of creating convenience at scale.
Swiggy's food delivery segment remained profitable, with a segment result of ₹202 crore and a gross order value (GOV) growth of 18.8% year-on-year to ₹8,086 crore. The company also added 1.2 million monthly transacting users (MTUs) during the quarter, reaching a total of 16.3 million - the highest in a single quarter over the last two years.
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However, the company's quick commerce vertical, largely through Instamart, recorded a steep segment loss of ₹797 crore on a revenue of ₹806 crore. Swiggy added just 41 dark stores during the quarter, taking its total store count to 1,062.
The company is also actively re-evaluating its investment in Rapido, the cab-hailing start-up, as Rapido plans to enter the food delivery segment, which could pose a potential conflict of interest for Swiggy.
