Swiggy's Q1 Revenue Soars, Loss Shrinks Significantly

In the June quarter of fiscal year 2027, Swiggy announced a consolidated net loss of ₹791 crore. This figure represents a significant narrowing compared to the ₹1,197 crore loss reported during the same period in the prior fiscal year, driven by robust revenue growth.

Swiggy's revenue from operations demonstrated strong performance, increasing to ₹6,812 crore in Q1 FY27. This marks a substantial rise from the ₹4,961 crore clocked in the corresponding quarter of the previous fiscal year.

Co-founder Sriharsha Majety highlighted that Swiggy's quick commerce arm, Instamart, achieved its break-even contribution target in May 2026. For Q1, Instamart's Adjusted EBITDA losses narrowed to ₹778 crore, showing positive momentum for the segment.

Motilal Oswal Financial Services retained a 'Buy' rating post-results, revising the target price to ₹350. Analysts noted Instamart's improving contribution margin, reaching -0.2% in Q1, nearing breakeven. The focus is now shifting towards growth, with margins expected to remain stable.

Despite improvements in contribution margins, achieving EBITDA profitability remains a longer-term objective for Swiggy. The company is estimated to require approximately ₹60 billion in net order value to reach EBITDA breakeven, a target projected to be met around FY30E, signifying a challenge that lies at least three years ahead.