Swiggy Reports Q2 Net Loss of Rs 922 Crore, Revenue Up 36%
Swiggy's financial results for Q2 FY27 show a narrowed net loss and significant revenue growth amidst rising expenses.
Swiggy's net loss decreased by 15.6% YoY to Rs 922 crore in Q2 FY27.
Revenue surged 36% YoY, reaching Rs 7,571 crore compared to Rs 5,561 crore last year.
Monthly transacting users increased to 27.8 million, up from 22.9 million a year ago.
On October 22, Swiggy announced its financial results for the second quarter of the fiscal year 2026-27, revealing a net loss of Rs 922 crore. This figure marks a 15.6% reduction from the Rs 1,092 crore loss reported during the same quarter last year. The Bengaluru-based food and grocery delivery platform noted that the loss was slightly higher than the previous quarter's loss of Rs 791 crore, largely due to the costs associated with its expanding quick commerce segment, Instamart.
Despite the losses, Swiggy experienced a significant increase in revenue, which rose by 36% year-on-year, totaling Rs 7,571 crore in Q2. This is a notable rise from Rs 5,561 crore in the same quarter last year and also higher than the Rs 6,812 crore reported in the previous quarter. The growth in revenue indicates a strong demand for Swiggy’s services, even as it navigates the challenges of profitability.
However, the company's total expenses surged nearly 30% year-on-year, reaching Rs 8,703 crore for the quarter ending in September, compared to Rs 6,711 crore a year prior. This increase in expenses is attributed to the operational costs associated with its rapid expansion and increased competition in the market.
In terms of user engagement, Swiggy reported a rise in its average monthly transacting users (MTUs), which grew to 27.8 million, up from 22.9 million in the same quarter last year. This growth in user base reflects the platform's ability to attract and retain customers amidst a competitive landscape, particularly against rivals like Zomato, which reported a substantial profit increase during the same period.
Looking ahead, Swiggy will need to focus on managing its expenses while continuing to drive revenue growth. As the company adapts to the evolving market dynamics, stakeholders will be keenly observing its strategies to enhance profitability and maintain user engagement in the coming quarters.
