“Our Food delivery business delivered its highest ever profits and margins while we continue to unlock new category growth through Toing, our standalone offering for affordable meals. In quick commerce, we delivered accelerated growth as guided and obtained necessary approvals to qualify as an Indian owned and controlled company – an important milestone for the business with the transition underway. As we shared at our Capital Markets Day, we believe that differentiation will decide winners with speed and selection becoming table stakes.
We see assortment as a curation game rather than a volume game, and our aim is to enable consumers to buy better, not just offer more,” said Sriharsha Majety, MD & Group CEO, Swiggy.
Key financial and operational highlights for the quarter:
Swiggy’s Food Delivery business Gross Order Value (GOV) grew 17.7% YoY (+5.9% QoQ), to INR 10,054 crore. Food delivery MTUs grew 15.2% YoY to reach 19.8 million. Adjusted EBITDA improved by INR 101 Cr YoY to INR 341 Cr and 3.4% Adjusted EBITDA margin (+58 bps YoY). Toing, the standalone app for affordable, budget-friendly meals services in 50+ cities. Two out of three new users on Toing were new to the food delivery category itself, and the high-volume demand is helping a substantial number of restaurant partners achieve unprecedented economies of scale. Out-of-Home Consumption grew 34.9% YoY to INR 1,508 Cr and delivered seventh successive quarter of profitability with margins at 0.5% of GOV.
Quick Commerce NOV grew 31.4% YoY and 13.4% QoQ to INR 6,954 Cr. Instamart added 69 darkstores in the quarter, equal to the cumulative additions of the last three quarters, bringing the total to 1,240 stores covering 5.2 million sq ft (+13.3% YoY). Contribution for the quarter stood at -1.0% of GOV, up 157 bps YoY and down 82 bps QoQ. Adjusted EBITDA margin improved to -9.7% from -9.8% in Q1FY27, posting an overall loss of INR 895 Cr for the quarter.
