Food and grocery delivery major Swiggy’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) loss widened to $178 million in the six months ended September 30, 2025, compared to $85 million in the year-ago period, due to continued investments in quick commerce, according to a financial update shared by key investor Prosus.
Despite the rising losses, Prosus – which owns 25 percent of Swiggy – reported strong demand trends for the January–June 2025 period. Swiggy’s customer base grew 35 percent year-on-year to 21.6 million, and gross order value (GOV) rose 43 percent on the back of food-delivery expansion and formats like Bolt. Food delivery GOV rose 18 percent while improving profitability, Prosus said.
Meanwhile, Instamart, Swiggy’s quick commerce arm, more than doubled its GOV, growing 105 percent, with average order value rising 26 percent in Q1 FY26.
Prosus noted that the rapid scale-up reflects “significant growth potential” in the quick-commerce market even as losses deepen.
Why did Swiggy’s losses jump this sharply?
The surge in adjusted EBITDA loss stems from Swiggy’s aggressive quick-commerce push, with Instamart’s deepening investments in fulfilment, delivery density and competition driving up costs faster than revenue. Prosus said the widening losses were a direct result of the company prioritising scale in a rapidly expanding market.
How is Swiggy performing on growth and demand?
Prosus described demand trends as “strong”, with a 43 percent rise in overall GOV and a 35 percent jump in the active customer base. The food-delivery business grew 18 percent in GOV, supported by steady user additions and new formats like Bolt, while also posting profitability improvements.
What’s happening inside Instamart?
Instamart delivered the fastest expansion within Swiggy, more than doubling GOV at 105 percent and lifting average order value by 26 percent in Q1 FY26. Prosus said the quick-commerce unit’s momentum underscores the “significant growth potential” of the category, even though its scale-up continues to weigh on groupwide profitability.
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