Swiggy shares fall 7% as Q3 loss widens to ₹1,065cr
What's the story
Swiggy shares fell as much as 7% to an intraday low of ₹305 on the BSE on Friday after the food delivery and quick commerce firm reported a wider consolidated net loss of ₹1,065 crore for Q3 FY26, compared with a ₹799 crore loss a year ago. Despite the financial setback, Swiggy's revenue from operations saw a significant jump of 54% year-on-year (YoY) to ₹6,148 crore during the period under review.
Sequential comparison
Swiggy's net loss narrows slightly from Q2FY26
On a sequential basis, Swiggy's net loss has narrowed slightly from ₹1,092 crore in Q2 FY26. Meanwhile, the company's revenue grew by 11% quarter-on-quarter (QoQ) from ₹5,561 crore recorded in the July-September quarter of last year. On the platform level, Swiggy saw a 36.8% YoY increase in average monthly transacting users (MTUs) to 24.3 million. This also marks a QoQ rise of 6%.
Business growth
Swiggy's quick commerce business continues rapid expansion
Swiggy's quick commerce business, Instamart, has also witnessed a massive surge, with GOV skyrocketing 103.2% YoY and 13.0% QoQ to ₹7,938 crore. This marks the fourth consecutive quarter of over 100% YoY growth for the segment. The company added 0.8 million MTUs during this period and expanded its network by adding 34 dark stores across 131 cities, taking the total to 1,136 stores in all.
Financials
Swiggy's average order value and losses in quick commerce
Swiggy's average order value rose 40% YoY to ₹746, driven by expansion in non-grocery offerings and larger basket sizes. However, losses in the quick commerce segment increased by ₹59 crore QoQ to ₹908 crore during this period. Despite these challenges, Motilal Oswal has maintained a Buy rating on Swiggy with a revised target price of ₹440, down from ₹530 earlier.