Swiggy Q1 Results: Revenue Jumps 37%, Net Loss Narrows to Rs 791 Crore as Instamart Continues Strong Growth

Swiggy Adds More Customers Across Businesses

Swiggy continued to expand its user base during the quarter. Average monthly transacting users (MTUs) increased 27.4% year-on-year to 27.5 million, while sequential growth stood at 9.2%, highlighting sustained demand despite intense competition in food delivery and quick commerce.

The company's food delivery business remained its most profitable segment. Gross Order Value (GOV) rose 17.4% year-on-year to Rs 9,490 crore, while monthly transacting users increased to 19.2 million, up 18% from a year earlier.

The segment reported an adjusted EBITDA of Rs 292 crore, improving by Rs 100 crore year-on-year, although it declined marginally from the previous quarter. EBITDA margin stood at 3.1% of GOV, indicating that food delivery continues to provide Swiggy with a stable earnings base.

Instamart Continues to Drive Swiggy's Growth

Instamart, Swiggy's quick-commerce business, remained the company's fastest-growing segment during Q1 FY27. Gross Order Value (GOV) increased 39.8% year-on-year to Rs 7,907 crore, while Net Order Value (NOV) rose 38.9% to Rs 5,817 crore.

The company expanded the Instamart network by adding 28 dark stores, taking the total to 1,171 stores across 131 cities. Total dark-store area also grew 14.6% year-on-year to over 4.9 million square feet, reflecting continued investment in fulfilment infrastructure.

Instamart also reported a 12.1% increase in Net Average Order Value to Rs 508, driven by higher demand for non-grocery categories and larger basket sizes.

Another key highlight of the quarter was the sharp improvement in Instamart's profitability. The business recorded a contribution margin of negative 0.2% of Gross Order Value, marking a 440-basis-point improvement from the year-ago period.

Swiggy said it had targeted Instamart to achieve contribution margin break-even by Q1 FY27 and has effectively reached that milestone. Meanwhile, the segment's adjusted EBITDA loss narrowed to Rs 778 crore, improving by Rs 80 crore from the previous quarter.

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