Swiggy’s quick commerce business, Instamart, reported a marginal decline in gross order value (GOV) during the quarter ended 31 March 2026, marking the first sequential moderation in the segment’s performance in recent years., as per news reports.
Despite the quarterly dip, the business continued to record strong year-on-year growth in both GOV and revenue. The latest earnings also reflect a broader trend across the quick commerce industry, where companies are increasingly prioritising profitability and operational efficiency alongside expansion.
Swiggy Instamart reported a gross order value of ₹7,881 crore during the fourth quarter of FY26, representing a sequential decline of 0.7% compared with the December quarter.
While the quarter-on-quarter performance softened, the business continued to show strong annual growth. On a year-on-year basis, Instamart’s GOV increased by 68%, reflecting continued consumer demand in the quick commerce segment.
The quarterly moderation comes after several periods in which quick commerce contributed significantly to Swiggy’s overall growth trajectory.
Revenue from Swiggy’s quick commerce operations increased 50% year-on-year to ₹1,057 crore during the March quarter.
On a sequential basis, revenue growth remained relatively stable, rising slightly from ₹1,016 crore reported in the previous quarter.
The latest performance indicates that while growth in transaction volumes may be moderating, revenue generation within the segment has continued to expand.
At the company level, Swiggy reported overall revenue growth of 45% year-on-year during the fourth quarter.
Total revenue rose to ₹6,383 crore compared with the corresponding period of the previous financial year.
At the same time, the company’s losses narrowed by 26% to ₹800 crore, indicating some improvement in cost management and operational performance.
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Swiggy Instamart’s marginal decline in gross order value during the March quarter reflects a broader industry shift towards profitability and operational discipline within the quick commerce sector.
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Published on: May 11, 2026, 2:18 PM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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