Swiggy posts ₹922cr loss in Q2
What's the story
Swiggy, the popular food and grocery delivery platform, has witnessed an improvement in its financial performance for the second quarter (Q2) of FY27. The company's net loss narrowed by 15.6% year-on-year (YoY) to ₹922 crore from ₹1,092 crore in the same period last year. However, this is a slight increase from the previous quarter's loss of around ₹792 crore due to rapid expansion in its quick commerce vertical Instamart.
Revenue growth
Revenue from operations jumps 36% YoY
Swiggy's revenue from operations has seen a massive 36% YoY jump to ₹7,571 crore in Q2.
This is an increase from the ₹5,561 crore reported in the same period last year and also higher than the ₹6,812 crore recorded in the previous quarter.
The company's total expenses also increased by nearly 30% YoY to ₹8,703 crore during this period.
Business performance
Swiggy Instamart reports GOV growth of 31% YoY
Swiggy's consumer-facing businesses reported a combined gross order value (GOV) of ₹20,793 crore, up 24.6% YoY. This growth was driven by improved demand across food delivery, quick commerce, and dining services.
Swiggy Instamart, the company's quick commerce business, also saw GOV growth of 31% YoY to ₹9,230 crore during the September quarter compared to ₹7,022 crore a year ago.
Expansion efforts
Other key highlights from Q2 results
Swiggy's net order value, which excludes discounts, grew 34.8% YoY to ₹6,594 crore.
The company's dark store network also expanded with the addition of 69 new stores during the quarter, taking its total to 1,240 across 133 cities.
Monthly transacting users reached 14.8 million during this period, an impressive growth rate of 23% YoY.