Swiggy losses narrow to Rs 791 Cr; revenue up 37% in Q1 FY27
Its quick commerce business Instamart, which hit a major breakeven milestone in May 2026, saw 53% YoY growth in revenue to reach Rs 1,232 in the first quarter.
Consumer internet company Swiggy saw its losses narrow by 34% even as the revenue rose by 37% for the first quarter of 2026-27 fiscal as it focused on operating a sustainable business in a highly competitive environment.
Swiggy reported a net loss of Rs 791 crore for the first quarter of FY27 as compared to a loss of Rs 1,197 crore registered in the similar period of last fiscal. The revenue rose to Rs 6,812 crore for the first quarter as compared to Rs 4,961 crore a year ago.
The largest contribution to Swiggy’s revenues in the first quarter came from its B2B business which registered a 41.4% year-on-year growth to touch a revenue of Rs 3,195 crore. The food delivery business saw 22.66% YoY growth to reach Rs 2,208 crore.
Its quick commerce business, Instamart, saw 53% YoY growth in revenue to reach Rs 1,232 in the first quarter. Swiggy Group CEO & MD Sriharsha Majety said the company has delivered a contribution breakeven, meeting its guidance that had been set a year ago. “As base-level assortment in quick commerce becomes increasingly commoditised, we believe our differentiated assortment strategy will be the engine for our next phase of growth, with further EBITDA improvement driven by scale-led efficiencies,” he remarked.
Source: Swiggy
In a communication to the shareholders, Swiggy said its quick commerce business hit break-even in terms of contribution margin in May 2026 with an overall contribution for the quarter at -0.2% of gross order value (GOV), a 440 bps year-on-year improvement while adjusted EBITDA losses narrowed to Rs 778 crore.
Swiggy said the gross order value of its quick commerce business grew 39.8% YoY to Rs 7,907 crore, and increased per-order monetisation and saw adjusted Revenue per order (RPO) rise to Rs 108. The company has expanded its network to 1,171 dark stores across 131 cities, and plans to further densify this footprint.
Swiggy said the average monthly transacting users on the platform grew by 27.4% YoY to touch 27.5 million in the first quarter.
The gross order value in the food delivery business grew 17.4% YoY to reach Rs 9,490 crore and added 0.9 million monthly transacting users during the quarter to reach 19.2 million which was a 18% YoY growth. The adjusted EBITDA improved by Rs 100 crore on a YoY basis to touch Rs 292 crore during the quarter.
“Food delivery economics continue to strengthen as we innovate across affordability and consumer propositions to broaden adoption and unlock the next 100 million users in the category," Majety said.