Swiggy Posts Narrower Q4 Loss of ₹800 Crore as Revenue Surges 45% Year-Over-Year

Swiggy Posts Narrower Consolidated Losses in Q4 FY26

Food delivery and quick commerce company Swiggy Limited reported a narrower consolidated loss of ₹800 crore for the fourth quarter of the financial year 2025-26 (FY26), marking a significant improvement from the same period last year and the third quarter ended 31 December 2025.

According to the company's Q4 results, Swiggy's revenue saw a strong 44.73% year-on-year (YoY) increase to ₹6,383 crore, driven by the strong performance of its food delivery and quick commerce business, Instamart. The revenue stood at ₹4,410 crore in the corresponding quarter a year ago.

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The company's adjusted EBITDA climbed 39.8% YoY to ₹297 crore, taking the annual figure past ₹1,000 crore. Swiggy pegged this acceleration on disciplined execution and the compounding effect of its focused launches across the "selection-speed-affordability" framework.

Swiggy's food delivery business hit a 15-quarter high, with the gross order value (GOV) jumping 22.6% YoY, ahead of its guided range of 18-20%. The company also reported a 21% YoY increase in food delivery MTUs to 18.3 million, with adjusted EBITDA margin improving to 3.3% of GOV.

Sriharsha Majety, MD & Group CEO, Swiggy, said this performance defies scepticism around a sector slowdown, with meaningfully better margins than a year ago. At the same time, the Instamart GOV rose 68.8% YoY to ₹7,881 crore, with adjusted EBITDA loss at ₹858 crore.

Network expansion remained selective, with seven dark stores added to take the total to 1,143 stores across 129 cities, covering 4.8 million sq ft. The average order value (AOV) grew 32.8% YoY to ₹700, driven by a sustained non-grocery mix and larger basket sizes, reflecting deeper engagement across user cohorts.

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Quick commerce posted an overall loss of ₹858 crore for the quarter, but the adjusted EBITDA margin improved to -10.9% from -11.4% in Q3. Out-of-Home Consumption delivered its first full year of profitability, with 43% YoY GOV growth and adjusted EBITDA margins of 0.8% of GOV.

"We remain on track for contribution margin breakeven in line with our guidance," Majety added. "The strong balance sheet gives us room to be disciplined and deliberate as we enter FY27."