Swiggy revenue rises 54% to Rs 6,148 crore in Q3 FY26, losses also jump 32% to Rs 1,065 crore

Food delivery and quick commerce company Swiggy reported a consolidated net loss of Rs 1,065 crore for the quarter ended December 31, 2025 (Q3 FY26), widening from a loss of Rs 799 crore in the year-ago period.

On a sequential basis, however, losses narrowed from Rs 1,092 crore in Q2 FY26.

Revenue from operations rose 54% year-on-year to Rs 6,148 crore in Q3 FY26, compared with Rs 3,993 crore a year earlier. On a quarter-on-quarter basis, revenue grew 11% from Rs 5,561 crore in the July-September quarter. Including other income from businesses such as Dineout, Genie and Swiggy Mini, total revenue for the quarter stood at Rs 6,244 crore.

Scootsy Logistics emerged as the single largest contributor to operating revenue, accounting for 48% of the total. Revenue from Scootsy grew 76% year-on-year to Rs 2,981 crore. The food delivery business contributed 33% of operating revenue, with collections rising 25% to Rs 2,039 crore, while quick commerce revenue increased 76% to Rs 1,016 crore.

At the platform level, average monthly transacting users grew 36.8% year-on-year to 24.3 million, with a 6% sequential increase. Consolidated adjusted revenue rose 51% year-on-year to Rs 6,431 crore. Consolidated adjusted EBITDA stood at a loss of Rs 712 crore, widening by Rs 16 crore quarter-on-quarter.

The B2C adjusted EBITDA margin as a percentage of B2C gross order value declined 16 basis points year-on-year to minus 3.5%, though it improved 15 basis points sequentially.

In food delivery, gross order value increased 20.5% year-on-year to Rs 8,959 crore, marking the fastest growth in three years. Monthly transacting users in this segment grew 22% year-on-year to 18.1 million. Adjusted EBITDA improved 13.1% quarter-on-quarter to Rs 272 crore, with margins rising to 3% of gross order value, the highest level in the past two years.

Quick commerce continued to scale rapidly. Gross order value more than doubled, rising 103.2% year-on-year to Rs 7,938 crore, marking the fourth consecutive quarter of over 100% growth.

Swiggy added 34 dark stores during the quarter, taking the network to 1,136 stores across 131 cities. Active dark store area expanded 95.5% year-on-year to 4.8 million square feet. Average order value rose nearly 40% year-on-year to Rs 746, driven by a wider non-grocery assortment and larger basket sizes.

Contribution margin improved to minus 2.5%, while adjusted EBITDA margin improved to minus 11.4 percent. Despite this, losses in quick commerce increased Rs 59 crore sequentially to Rs 908 crore.

On the cost side, procurement of FMCG products for supply chain distribution accounted for 38% of total expenses and increased 76% year-on-year to Rs 2,746 crore. Delivery charges rose 36% to Rs 1,533 crore. Employee benefit expenses stood at Rs 673 crore, while advertising and promotion expenses were Rs 1,108 crore. Overall expenses for the quarter increased 49% year-on-year to Rs 7,298 crore.

For the nine-month period ended December 2025, Swiggy reported a cumulative loss of Rs 3,354 crore.

Commenting on the performance, Sriharsha Majety, managing director and group chief executive officer, said the company continued to accelerate user growth and gross order value in food delivery while improving operating margins, even as it invested aggressively in quick commerce. He added that Swiggy’s confidence in its roadmap was reinforced by the successful qualified institutional placement, which strengthened the balance sheet and supported sustained investment in growth and innovation.