Swiggy Loss Narrows 16% to Rs 922 Crore in Q2
Revenue rose about 36% to Rs 7,571 crore in the September quarter.
Key Takeaways
- Swiggy's Q2 FY27 net loss was Rs 922 crore, down from Rs 1,092 crore a year ago.
- Operating revenue rose about 36% to Rs 7,571 crore.
- Supply chain and distribution revenue was Rs 3,690 crore, up 44.1%.
- Food delivery earned Rs 2,338 crore and quick commerce Rs 1,306 crore.
- First half net loss fell to Rs 1,713 crore from Rs 2,289 crore.
Swiggy reported a net loss of Rs 922 crore for the September quarter of FY27, about 16% lower than the Rs 1,092 crore loss a year earlier, as its revenue rose about 36% to Rs 7,571 crore.
The loss shrank even though costs kept rising. Total expenses were Rs 8,703 crore, about 30% higher than a year ago.
Swiggy Q2 FY27 at a glance
| Detail | Swiggy |
|---|---|
| Operating revenue | Rs 7,571 crore (Rs 5,561 crore a year ago) |
| Net loss | Rs 922 crore (Rs 1,092 crore a year ago) |
| Other income | Rs 212 crore |
| Total expenses | Rs 8,703 crore |
| Supply chain and distribution revenue | Rs 3,690 crore, up 44.1% |
| Food delivery revenue | Rs 2,338 crore, up about 22% |
| Quick commerce revenue | Rs 1,306 crore, up about 33% |
| First half revenue | Rs 14,383 crore |
| First half net loss | Rs 1,713 crore (Rs 2,289 crore a year ago) |
Where Swiggy's revenue and costs come from
Swiggy earns money from three main areas: delivering food, delivering groceries and other goods through Instamart, and supplying goods to businesses. The supply chain arm was the biggest contributor this quarter, at nearly half of operating revenue.
Costs rose across the board. Delivery and related charges came to Rs 1,895 crore and advertising and sales promotion to Rs 1,298 crore. Employee costs were Rs 676 crore, slightly lower than a year ago.
Swiggy is growing faster than its loss, but still trails Eternal
For founders and investors, the key point is that Swiggy is growing faster than its loss. The half year loss fell from Rs 2,289 crore to Rs 1,713 crore while revenue rose to Rs 14,383 crore.
Rival Eternal, the parent of Zomato and Blinkit, reported a profit of Rs 125 crore on revenue of Rs 24,138 crore for the same quarter, so Swiggy still has ground to cover.
For small restaurants and shops that sell through delivery apps, heavy spending on delivery and ads suggests platform costs will stay an important part of their margins.
Can Instamart keep growing while losses shrink?
Watch whether quick commerce revenue keeps growing at about 33% and whether the net loss keeps falling in the next quarter.
