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Swiggy posted a weak set of earnings for the quarter ended June 30, 2025, as consolidated losses deepened despite strong revenue growth. The food-tech major reported a total income of ₹5,048 crore, up 52.5% YoY, while net loss widened to ₹1,197 crore, compared to a loss of ₹611 crore in Q1 FY25. Margin pressures from the quick-commerce and platform innovation businesses continued to weigh on bottom-line performance.
Consolidated revenue rose 52.5% YoY to ₹5,048 crore in Q1 FY26, driven by scale-up in quick-commerce and supply chain segments.
Net loss widened to ₹1,197 crore vs ₹611 crore in Q1 FY25, primarily due to sustained investments in new business verticals.
Quick-commerce losses surged to ₹797 crore, making it the biggest drag on profitability this quarter.
Food delivery remained profitable, with segment EBIT at ₹202 crore, though margins compressed slightly QoQ.
Operating expenses increased across key cost heads: delivery charges at ₹1,313 crore and employee costs at ₹686 crore.
No tax expenses or exceptional items reported during the quarter.
Quarterly – Swiggy Q1 Results FY25-26
Particulars | Q1 FY26 (₹ Cr) | Q4 FY25 (₹ Cr) | Q1 FY25 (₹ Cr) |
Revenue from Operations | 4,961 | 4,410 | 3,222 |
Other Income | 87 | 121 | 88 |
Total Income | 5,048 | 4,531 | 3,310 |
Cost of Materials Consumed | 13 | 5 | 8 |
Purchases of Stock-in-trade | 2,058 | 1,849 | 1,195 |
Changes in Inventory | (7) | (1) | (8) |
Employee Benefits Expense | 686 | 696 | 589 |
Finance Costs | 41 | 32 | 20 |
Depreciation & Amortization | 288 | 206 | 122 |
Advertising & Promotion | 1,036 | 978 | 445 |
Delivery and Related Charges | 1,313 | 1,161 | 1,046 |
Other Expenses | 816 | 684 | 491 |
Total Expenses | 6,244 | 5,610 | 3,908 |
Loss Before Share of Associate | (1,196) | (1,079) | (598) |
Share of Loss from Associate | (1) | (2) | 0 |
Loss Before Tax | (1,197) | (1,081) | (611) |
Current Tax | - | - | - |
Deferred Tax | - | - | - |
Loss for the Period | (1,197) | (1,081) | (611) |
Other Comprehensive Loss | (2) | (2) | 5 |
Total Comprehensive Loss | (1,199) | (1,083) | (606) |
EPS (Basic / Diluted) | (₹5.04) | (₹4.60) | (₹2.76) |
Swiggy’s revenue surged across all verticals in Q1 FY26. However, mounting segment-level losses—especially from quick commerce and platform innovations—pressured profitability.
1. Food Delivery
Revenue: ₹1,799 crore
EBIT: ₹202 crore
Insight: Continued margin-positive vertical; slight dip QoQ due to seasonal softness.
2. Out of Home Consumption
Revenue: ₹77 crore
EBIT: ₹5 crore
Insight: Stable vertical, helped by rising demand for niche formats.
3. Quick-commerce
Revenue: ₹806 crore
EBIT: ₹(797) crore
Insight: Heavy losses reflect ongoing investments and operational scaling in this fast-growing segment.
4. Supply Chain and Distribution
Revenue: ₹2,259 crore
EBIT: ₹(47) crore
Insight: Revenue leader among segments; near break-even suggests maturing logistics strength.
5. Platform Innovations
Revenue: ₹20 crore
EBIT: ₹(52) crore
Insight: Early-stage innovation spends driving negative margins.
Sriharsha Majety, MD & Group CEO, Swiggy, said “Swiggy’s Food delivery business continues to deliver robust growth, while innovating to create new customer propositions which can open up the market further. Bolt and 99-store are efforts to ensure that we keep challenging the status quo, and help our restaurant partners garner new users and incremental consumption. Instamart witnessed a massive leap in AOV led by assortment expansion and Maxxsaver adoption. Focus has been on agile and calibrated network expansion; and improving wallet-share by increasing basket-size which is one of the prime determinants of long-term profitability. We have moved past the Mar-25 peak of losses in Quick-commerce, but amidst significant competition we will modulate investments to ensure that we drive the business towards scale-led profitability."
Source: Q1 FY25-26 Quarterly Results uploaded on 31st July 2025, on BSE.
For a complete overview of all upcoming and past earnings reports, check the Quarterly Results Calendar 2025.
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