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Swiggy Q4 Results: Food delivery and quick commerce company, Swiggy Limited, posted narrower consolidated losses for the fourth quarter of the financial year 2025-26 (FY26) on Friday, 8 May.
Swiggy's Q4 loss came in at ₹800 crore, compared with ₹1,081 crore in the same period last year and ₹1,065 crore at the end of the third quarter ended 31 December 2025.
The company posted a strong 44.73% year-on-year (YoY) increase in its revenue during the quarter under review to ₹6,383 crore, as the performance for food delivery and quick commerce business, Instamart, remained strong. The revenue stood at ₹4,410 crore in the corresponding quarter a year ago.
Swiggy reported a narrower consolidated loss of ₹800 crore for Q4 FY26, down from ₹1,081 crore in the same period last year. Revenue surged 45% year-on-year to ₹6,383 crore.
Swiggy's food delivery business saw its gross order value (GOV) jump 22.6% year-on-year, exceeding its guided range. Monthly transacting users (MTUs) grew 21% year-on-year to 18.3 million, and adjusted EBITDA climbed 39.8% year-on-year.
Instamart's gross order value (GOV) rose 68.8% year-on-year to ₹7,881 crore. The average order value (AOV) grew 32.8% year-on-year to ₹700, and the adjusted EBITDA loss improved quarter-on-quarter.
India's food services market is valued at $80 billion and is projected to grow at a 10-11% CAGR through 2030, driven by the rapid expansion of organized players and a shift towards online food delivery and branded dine-in chains.
Recent transactions include Siguler Guff's $40 million investment in Trimex Foods, Burma Burma's ₹38 crore fundraise, Burger Singh's ₹82 crore round, and plans for Sapphire Foods India to merge with Devyani International. Bikaji's promoter's family office also acquired a 35% stake in The Filter Coffee.
Overall, the average monthly transacting users (MTU) grew 27.2% YoY to 25.2 million, while consolidated adjusted EBITDA improved by ₹60 crore sequentially to a loss of ₹652 crore.
Swiggy, in a press release, said that the food delivery business hit a 15-quarter high, as the gross order value (GOV) jumped 22.6% YoY, ahead of its guided range of 18-20%.
Meanwhile, its adjusted EBITDA climbed 39.8% YoY to ₹297 crore, taking the annual figure past ₹1,000 crore. EBITDA stands for earnings before interest, tax, depreciation and amortisation.
Swiggy pegged this acceleration on disciplined execution and the compounding effect of our focused launches across the "selection-speed-affordability" framework.
“While this acceleration is definitely exciting, we are particularly pleased to see this being driven by a sharper increase in order and user volumes as opposed to AOVs,” Swiggy said in its letter to shareholders.
Food delivery MTUs grew 21% YoY to reach 18.3 million. Adjusted EBITDA margin improved to 3.3% of GOV.
Sriharsha Majety, MD &Group CEO, Swiggy, said this performance defies scepticism around a sector slowdown, with meaningfully better margins than a year ago.
At the same time, the Instamart GOV rose 68.8% YoY to ₹7,881 crore with adjusted EBITDA loss at ₹858 crore.
Network expansion remained selective, with seven dark stores added to take the total to 1,143 stores across 129 cities, covering 4.8 million sq ft. AOV grew 32.8% YoY to ₹700, driven by a sustained non-grocery mix and larger basket sizes, reflecting deeper engagement across user cohorts, the company said.
The adjusted EBITDA margin improved to -10.9% from -11.4% in Q3, with Quick commerce posting an overall loss of ₹858 crore for the quarter.
“In quick commerce, the next phase will be defined by anticipating consumer needs, not merely fulfilling them. Unit economics continue to improve quarter on quarter, and we remain on track for contribution margin breakeven in line with our guidance. The strong balance sheet gives us room to be disciplined and deliberate as we enter FY27,” Majety added.
Out-of-Home Consumption delivered its first full year of profitability, with 43% YoY GOV growth and adjusted EBITDA margins of 0.8% of GOV, the company added.
Disclaimer: This story is for educational purposes only. We advise investors to check with certified experts before making any investment decisions.
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