Swiggy Q3 FY26 Earnings Results: Net Loss Widens to ₹1,065 Crore as Revenue Jumps 54%

Food and grocery delivery platform Swiggy reported a wider net loss of ₹1,065 crore in Q3 FY26, marking a 33% year-on-year increase from ₹799 crore in the same quarter last year.

However, losses narrowed slightly on a quarter-on-quarter basis, compared to ₹1,092 crore in Q2 FY26, helped by strong growth in its quick-commerce business, Instamart.

Revenue Growth Remains Strong

Swiggy’s revenue from operations surged 54% YoY to ₹6,148 crore in the December quarter, up from ₹3,993 crore a year ago. Revenue also improved sequentially from ₹5,561 crore in the previous quarter.

Rising Costs Impact Profitability

Total expenses increased nearly 49% YoY to ₹7,298 crore, compared with ₹4,898 crore in Q3 FY25, reflecting continued investments across businesses.

Adjusted EBITDA loss widened to ₹712 crore, compared with ₹490 crore last year and ₹695 crore in the previous quarter.

User Growth and Platform Activity

Average monthly transacting users grew 37% YoY to 24.3 million, indicating strong user engagement across the platform.

Food Delivery Business Performance

Revenue from food delivery increased 22% YoY to ₹2,277 crore. The segment’s gross order value (GOV) rose over 20% YoY to ₹8,959 crore, supported by steady order growth.

Instamart Drives Growth

Swiggy’s quick-commerce arm Instamart posted strong numbers, with revenue rising 74% YoY to ₹1,052 crore. GOV in this segment jumped nearly 103% YoY to ₹7,938 crore, showing rising demand for quick deliveries.

However, store expansion remained slower, with 34 new dark stores added, taking the total to 1,136 stores.

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Comparison with Zomato

In comparison, rival Zomato reported a 73% YoY rise in quarterly profit to ₹102 crore, along with a sharp 202% YoY jump in revenue, highlighting the growing competition in the sector.

Swiggy Share Price Movement

Swiggy share price (NSE: SWIGGY) was trading at ₹309.05 on the NSE at 11:32 am IST on January 30, down ₹18.60 or 5.68% for the day. The stock opened at ₹309.00, touched an intraday high of ₹314.90, and slipped to a low of ₹302.15. The stock has no listed P/E ratio or dividend payout. Over the past year, shares have moved between a 52-week high of ₹474.00 and a 52-week low of ₹297.00.

Conclusion

Swiggy delivered strong revenue growth in Q3 FY26, led by Instamart and rising user activity. However, higher expenses and continued investments kept losses elevated, making profitability a key challenge going ahead.

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