Swiggy Q3 results: Net loss widens to Rs 1,065 crore, revenue rises 54%

Swiggy Q3 results: Net loss widens to Rs 1,065 crore, revenue rises 54%

Food and grocery delivery platform Swiggy on January 29 reported that its net loss widened 33 percent year-on-year (YoY) to Rs 1,065 crore in the third quarter (Q3) of financial year 2025-26 (FY26), up from Rs 799 crore in the same period a year ago.

However, the firm reported a narrower third‑quarter loss sequentially, from Rs 1,092 crore in the previous quarter, as strong demand in its quick‑commerce arm Instamart partly offset the drag from continued high investments.

Swiggy’s revenue from operations rose 54 percent YoY to Rs 6,148 crore in Q3, up from Rs 3,993.1 crore a year ago. It had reported a revenue of Rs 5,561 crore in the previous quarter.

In comparison, its chief rival Zomato posted a 73 percent YoY rise in quarterly profit at Rs 102 crore in the December quarter, while its revenue rose 202 percent YoY to Rs 16,315 crore.

Swiggy's adjusted EBITDA loss for the quarter stood at Rs 712 crore for the December quarter, up 45 percent from Rs 490 crore in the year ago period. This figure stood at Rs 695 crore in the previous quarter.

Meanwhile, its total expenses increased nearly 49 percent YoY to Rs 7,298 crore in the quarter ended December, up from Rs 4,898.3 crore a year ago and Rs 6,711 crore a quarter ago.

The platform's average monthly transacting users (MTUs) grew 37 percent YoY to 24.3 million during the quarter, from 17.8 million in the year ago period.

Food delivery

The firm's food delivery revenue rose 22 percent YoY to Rs 2,277 crore in Q3FY26, from Rs 1,860 crore a year ago. Meanwhile the gross order value (GOV) of this vertical grew over 20 percent YoY to Rs 8,959 crore, from Rs 7,436 crore in Q3 FY25.

Instamart

Revenue for Swiggy's quick commerce business, Instamart, rose 74 percent to Rs 1,052 crore on an annual basis, from Rs 603 crore in Q3 FY25. GOV growth accelerated to almost 103 percent YoY to Rs 7,938 crore. It had reported a GOV of Rs 3,907 crore in the year ago period, and Rs 7,022 crore in the previous quarter.

However, the company added just 34 dark stores during the quarter, taking its total store count to 1,136. In comparison, Zomato added 211 new stores in the December quarter, taking its total dark store footprint to 2,027.

On January 29, Swiggy shares closed nearly flat at Rs 323.85 apiece. The results were announced in the post-market hours.