Swiggy Q2 FY26 Earnings Reports 48% Surge in Gross Order Value to ₹16,683 Crore

Swiggy reported strong performance for the quarter ended September 30, 2025, with total Gross Order Value (GOV) rising 48% year-on-year to ₹16,683 crore. The company’s consolidated adjusted EBITDA loss improved by ₹118 crore quarter-on-quarter to ₹695 crore, signalling better cost control and efficiency.

Food Delivery Sees Continued Momentum

Swiggy’s food delivery business grew 18.8% YoY, with a GOV of ₹8,542 crore. Monthly transacting users (MTUs) increased by 17% YoY, adding over 9 lakh new users during the quarter. Adjusted EBITDA rose 2.1 times YoY to ₹240 crore, with margins improving to 2.8% of GOV. This growth was driven by new features such as Swiggy Bolt, 99-Store, Deskeats, and health-focused food options.

Instamart Leads Growth with 108% Surge

Instamart, Swiggy’s quick-commerce business, posted an impressive 108% YoY and 24% QoQ GOV growth, reaching ₹7,022 crore. The average order value jumped nearly 40% YoY to ₹697, supported by initiatives like Maxxsaver (for grocery orders) and the “Quick India Movement,” which featured over 30,000 products. Contribution margins improved by around 200 basis points to -2.6%, while the EBITDA loss narrowed to ₹849 crore. Swiggy expanded its network to 1,102 dark stores across 128 cities.

Out-of-Home and Multi-Service Expansion

Swiggy’s Out-of-Home Consumption segment continued its profitable path, growing 52% YoY with EBITDA margins at 0.5% of GOV. Average monthly transacting users on the Swiggy platform grew 34% YoY to 22.9 million, with 36% using more than one service, showing increased customer engagement.

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Swiggy CEO Sriharsha Majety said the company achieved its highest double-digit order growth in two years. He credited this success to new offerings like Bolt, 99-Store, and Maxxsaver, along with focus on scale, efficiency, and customer satisfaction across business verticals.

About Swiggy

Founded in 2014, Swiggy is India’s leading on-demand convenience platform, operating in over 720 cities with 2.6 lakh partner restaurants and 6.9 lakh delivery partners. Its quick-commerce arm, Instamart, serves customers across 128 cities, delivering groceries and essentials within minutes. Swiggy continues to innovate through services like Dineout, Scenes, Snacc, and its membership program, Swiggy One.

Swiggy Share Price Movement

As of October 30, 2025, Swiggy share price (NSE: SWIGGY) closed at ₹418.00, down by ₹0.95 or 0.23% from the previous session. During the day, the stock opened at ₹419.95 and traded between a high of ₹422.50 and a low of ₹413.50. Swiggy currently holds a market capitalisation of ₹95,650 crore. The stock does not have a reported P/E ratio or dividend yield at present. Over the past 52 weeks, Swiggy’s share price has ranged between a high of ₹617.30 and a low of ₹297.00.

Conclusion

Swiggy’s strong revenue growth and improving margins highlight its steady progress toward profitability. With Instamart scaling rapidly and food delivery showing sustained momentum, the company is well-positioned for continued expansion and operational efficiency in the coming quarters.

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