Swiggy Shares Crash 4% After Q1 Loss Widens to Rs 1,197 Crore Despite 54% Revenue Growth

Shares of Swiggy opened sharply lower on Friday, falling by Rs 15.75 or 3.90% to Rs 388 at 9.39 am on the National Stock Exchange (NSE) after the company reported a steep rise in net loss for the first quarter of the financial year 2025-26 (Q1 FY26), even as revenues saw robust growth.

Swiggy Share Price After Q1 Results Announcement

Swiggy shares dropped sharply in early trade on Friday, falling 2.86% to Rs 392.20 as of 9.27 am. The stock opened at Rs 408.00 and touched an intraday high of Rs 408.50 before slipping to a low of Rs 386.40.

Currently trading well below its 52-week high of Rs 617.30, Swiggy shares remain 32% off their peak. However, they are still above the 52-week low of Rs 297.00.

Swiggy Q1 Results: Net Loss Rises

The country's leading quick commerce and food delivery platform posted a consolidated net loss of Rs 1,197 crore for the quarter ended June 2025, up significantly from Rs 611 crore in the same period last year.

The widening losses came despite a 54% year-on-year (YoY) surge in revenue, which stood at Rs 4,961 crore, compared to Rs 3,222 crore in Q1 FY25. Sequentially, the losses were also higher than the Rs 1,081 crore posted in Q4 FY25, although revenue increased 12.5% quarter-on-quarter (QoQ).

Swiggy EBITDA and Food Delivery Performance

Swiggy's consolidated adjusted EBITDA loss rose to Rs 813 crore, compared to Rs 465 crore in the year-ago quarter and Rs 732 crore in the March 2025 quarter.

The core food delivery business posted an 18.8% YoY increase in GOV to Rs 8,086 crore. The business saw adjusted EBITDA margins contract to 2.4% of GOV, largely due to seasonal investments in delivery partner availability and the impact of annual appraisals.

Platform Metrics and User Growth: GOV in B2C Hikes

Swiggy's platform continued to see traction, with its Gross Order Value (GOV) in the B2C segment rising 45% YoY to Rs 14,797 crore. However, B2C adjusted EBITDA margins slipped 204 basis points (bps) YoY to -4.7%, though they improved by 12 bps on a sequential basis.

Average Monthly Transacting Users (MTUs) increased by 35.2% YoY and 9% QoQ, reaching 21.6 million. Notably, Swiggy added 1.2 million MTUs in a single quarter, the highest addition in the last two years.

Swiggy Instamart's Performance: Strong AOV, Narrowing Losses

Swiggy's quick commerce arm, Instamart, delivered exceptional growth with GOV rising 108% YoY and 21% QoQ. The Average Order Value (AOV) jumped 25.6% YoY to ₹612, driven by non-grocery expansion and larger-basket shopping trends.

Instamart's contribution margin improved by nearly 100 bps QoQ to -4.6%, while adjusted EBITDA margin improved to -15.8%. Swiggy also added 41 dark stores in the quarter, expanding total active space to 4.3 million sq ft, a 158.7% YoY increase.

Out-of-Home Segment Turns Profitable

The Out-of-Home consumption segment saw GOV grow 61% YoY and 21% QoQ, supported by the success of GIRF (Great Indian Restaurant Festival) and a focus on key event days. The segment maintained profitability with an adjusted EBITDA margin of 0.5%, up 20 bps QoQ.

Sriharsha Majety, MD & Group CEO of Swiggy briefed, "Swiggy's food delivery business continues to show strong growth while we push to create new value propositions for customers. Instamart witnessed a leap in AOV, driven by assortment expansion and user behavior shifts. We are focusing on strategic expansion and improving wallet share by increasing basket sizes, a key to long-term profitability."

He added that while the company has moved past the March 2025 peak in quick-commerce losses, investments will now be carefully modulated to steer the business toward scale-led profitability amid ongoing competitive intensity.