Swiggy Limited, India’s leading on-demand convenience platform, announced its financial results for the quarter and half-year ending September 30, 2026, showcasing robust growth across its business segments. The company reported a 33.8% year-on-year increase in overall revenue, amounting to INR 7,909 crore, driven by significant advancements in its food delivery and quick commerce operations.
The food delivery segment recorded a Gross Order Value (GOV) growth of 17.7% year-on-year, reaching INR 10,054 crore. This growth was complemented by an increase in monthly transacting users, which rose by 15.2% to 19.8 million. Swiggy’s food delivery business achieved its highest-ever adjusted EBITDA of INR 341 crore, marking an increase of INR 101 crore from the previous year, with a margin of 3.4% of GOV. The introduction of Toing, a standalone app for affordable meals, has been a crucial factor in this success, attracting new users and expanding the marketplace growth potential to 25-30%.
In the quick commerce segment, Swiggy’s Instamart reported a notable Gross Order Value growth of 16.7% quarter-on-quarter, reaching INR 9,230 crore. The number of orders also saw a 13.4% increase, with the contribution margin improving by 157 basis points year-on-year to -1.0% of GOV. Instamart expanded its infrastructure significantly, adding 69 dark stores during the quarter, bringing the total to 1,240 stores. Despite an overall loss of INR 895 crore for the quarter, the adjusted EBITDA margin showed a slight improvement.
Swiggy’s continued focus on differentiation and innovation, as articulated by Sriharsha Majety, MD & Group CEO, remains central to its strategy. The company is committed to enhancing consumer experience through curated assortments rather than sheer volume, aiming to enable better purchasing decisions. Analysts observe that Swiggy’s strategic investments in new services and market segments could further solidify its position in the competitive landscape, particularly as it transitions to being an Indian-owned and controlled entity. The market will be closely watching how these developments impact Swiggy’s future performance amidst evolving consumer preferences and regulatory landscapes.
