Swiggy Rides the Growth Wave with Reduced Losses

Swiggy has reported a narrowed net loss of Rs 625.53 crore in Q2, showcasing growth in its food delivery business. The company's revenue rose to Rs 3,601.45 crore, and it aims for positive EBITDA by FY26. Swiggy is expanding its quick-commerce and dine-out services while investing in logistics.

Swiggy, a leading food and grocery delivery platform, has announced a narrowing of its consolidated net loss to Rs 625.53 crore for the second quarter ending September 30, thanks to sustained growth in its food delivery operations.

Releasing its first quarterly results since going public, Swiggy detailed its financial trajectory, revealing a reduced net loss from Rs 657 crore a year ago. The firm anticipates achieving positive adjusted EBITDA by the third quarter of FY26. Revenue for the recent quarter increased significantly to Rs 3,601.45 crore from Rs 2,763.33 crore in the previous year.

Swiggy is bolstering its operations with a Rs 1,600 crore investment in Scootsy Logistics and forecasts continued profitability improvements in its food delivery and quick-commerce segments. CEO Sriharsha Majety highlights the diverse services under Swiggy, aiming to integrate deeply into daily life in India.

(With inputs from agencies.)