Swiggy's Q3 loss widens to ₹1,065cr despite 54% revenue growth
What's the story
Swiggy, the popular food and grocery delivery platform, has reported a net loss of ₹1,065 crore for the third quarter (Q3) of FY26. The figure is a 33% increase from the loss of ₹799 crore in the same period last year. However, it is an improvement over the previous quarter's loss of ₹1,092 crore. The company's revenue from operations jumped by 54% YoY to ₹6,148 crore in Q3 FY26, a significant jump from ₹3,993.1 crore reported in Q3 FY25.
Financial overview
Swiggy's adjusted EBITDA loss and total expenses
Swiggy's adjusted EBITDA loss for the December quarter stood at ₹712 crore, a 45% increase from ₹490 crore in the same period last year. The figure was ₹695 crore in the previous quarter. Meanwhile, Swiggy's total expenses rose nearly 49% YoY to ₹7,298 crore for the quarter ending December. This is an increase from ₹4,898.3 crore reported during the same period last year and ₹6,711 crore in the previous quarter.
User growth
Swiggy's average monthly transacting users and stock performance
Swiggy's average monthly transacting users (MTUs) grew by 37% YoY to 24.3 million during the quarter, up from 17.8 million in the same period last year. The company's shares ended nearly flat at ₹323.85 apiece on January 29, after announcing its financial results post-market hours. The firm's food delivery revenue rose 22% YoY to ₹2,277 crore in Q3 FY26, from ₹1,860 crore a year ago.
Quick commerce
Instamart revenue surged 74% in Q3
Revenue from Swiggy's quick commerce arm, Instamart, surged 74% YoY to ₹1,052 crore in Q3 FY26, up from ₹603 crore a year ago. Gross order value nearly doubled, rising about 103% YoY to ₹7,938 crore, compared with ₹3,907 crore in the year-ago period and ₹7,022 crore in Q2 FY26. However, store expansion remained modest. Swiggy added 34 dark stores during the quarter, taking its total to 1,136, while rival Zomato added 211 stores, expanding its dark store network to 2,027.