Swiggy Q1FY27 Results: Swiggy, the leading food delivery and quick-commerce platform, significantly narrowed its consolidated net loss to ₹791 crore in the April-June quarter, compared with ₹1,197 crore in the year-ago period. On a sequential basis, the net loss also improved from ₹800 crore in the March quarter.
The company’s consolidated revenue from operations surged 37% year-on-year (YoY) to ₹6,812 crore during the quarter under review, supported by strong growth in its quick-commerce business, which continued to drive top-line performance.
In the corresponding quarter of the previous year, the company had reported revenue from operations of ₹4,961 crore. In the March quarter (Q4 FY26), revenue stood at ₹6,383 crore.
On the operating front, the losses of adjusted EBITDA narrowed to ₹650 crore as compared to ₹945 crore posted in the same period last year.
Swiggy continued to witness strong user growth and improving operating metrics during the June quarter. The platform’s average monthly transacting users (MTUs) grew 27.4% year-on-year (YoY) to 27.5 million, while rising 9.2% sequentially.
Food delivery and quick commerce sustain growth momentum
Swiggy’s food delivery business reported a 17.4% YoY increase in GOV to ₹9,490 crore, while adding 0.9 million monthly transacting users during the quarter to reach 19.2 million, up 18% from a year earlier.
Adjusted EBITDA for the segment improved by ₹100 crore YoY to ₹292 crore, although it declined marginally by ₹5 crore sequentially. The adjusted EBITDA margin stood at 3.1% of GOV, improving 70 basis points YoY but declining 22 bps from the previous quarter.
The quick-commerce business also maintained strong momentum, with GOV rising 39.8% YoY to ₹7,907 crore, while net order value (NOV) increased 38.9% to ₹5,817 crore, with 3% sequential growth.
Swiggy expanded its dark-store network by 28 stores during the quarter, taking the total to 1,171 stores across 131 cities, while the total dark-store area grew 14.6% YoY to more than 4.9 million sq. ft.
The segment’s net average order value (nAOV) increased 12.1% YoY to ₹508, driven by a higher contribution from non-grocery categories and larger basket sizes.
Quick commerce hits contribution margin break-even milestone
Quick commerce hit its contribution margin break-even target, with the overall contribution for the quarter at -0.2% of GOV, marking a 440-basis-point year-on-year improvement. Adjusted EBITDA losses also narrowed to ₹778 crore, reflecting a sequential improvement of ₹80 crore.
The company said that around a year ago it had committed to achieving contribution margin break-even in its quick-commerce business by Q1 FY27 and has now achieved that milestone.
It added that, despite intensifying competition in the quick-commerce space, it chose to prioritise improving unit economics over chasing short-term headline growth.
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