Swiggy Q1 FY27 net loss narrows to ₹791 crore as revenue jumps 37%
Synopsis
Swiggy cut its quarterly net loss by nearly a third year-on-year to ₹791 crore even as it pushed revenue past ₹6,800 crore — a 37% YoY jump. The numbers show a company spending hard to win users while slowly bending the loss curve. The real question is whether quick-commerce margins can mature fast enough to close the gap with a profitable Zomato.
Key Takeaways
Swiggy reported a consolidated net loss of ₹791 crore in Q1 FY27 (quarter ended 30 June 2025 ).
Loss narrowed sharply from ₹1,197 crore in Q1 FY26 and from ₹800 crore in Q4 FY26.
Revenue from operations rose 37 per cent year-on-year to ₹6,812 crore , up from ₹4,961 crore a year ago.
Adjusted EBITDA loss improved to ₹650 crore from ₹945 crore in the year-ago quarter.
Average monthly transacting users grew 27.4 per cent YoY to 27.5 million .
Food delivery GOV rose 17.4 per cent YoY to ₹9,490 crore ; segment adjusted EBITDA stood at ₹292 crore .
Swiggy Limited posted a consolidated net loss of ₹791 crore for the first quarter of FY27 (ended 30 June 2025), as the food-tech and quick-commerce platform pressed ahead with dark-store expansion and user acquisition. The loss marks a significant improvement from ₹1,197 crore in Q1 FY26 and a slight narrowing from ₹800 crore in the preceding March quarter, according to the company's stock exchange filing.
Revenue Performance
Consolidated revenue from operations surged 37 per cent year-on-year to ₹6,812 crore in Q1 FY27, up from ₹4,961 crore in the same period last year. Revenue also grew sequentially from ₹6,383 crore in the March quarter, driven primarily by sustained momentum in Swiggy's quick-commerce vertical.
The company's adjusted EBITDA loss narrowed to ₹650 crore from ₹945 crore in the year-ago period, signalling improving operating leverage even as the firm continues to invest heavily in growth.
User Growth and Food Delivery
Swiggy's average monthly transacting users (MTUs) climbed 27.4 per cent year-on-year to 27.5 million, with sequential growth of 9.2 per cent. The food delivery segment remained resilient, with gross order value (GOV) rising 17.4 per cent year-on-year to ₹9,490 crore.
Food delivery MTUs reached 19.2 million, up 18 per cent over the previous year, with approximately 0.9 million new monthly transacting users added during the quarter. Adjusted EBITDA for the food delivery segment improved by ₹100 crore year-on-year to ₹292 crore, though it dipped marginally by ₹5 crore sequentially. The segment's adjusted EBITDA margin stood at 3.1 per cent of GOV — expanding 70 basis points year-on-year, though declining 22 basis points sequentially.
What the Management Said
Sriharsha Majety, MD and Group CEO of Swiggy, said the food delivery economics continue to strengthen as the company innovates across affordability and consumer propositions. 'Out-of-home consumption remains a profitable, fast-growing part of our business, making meaningful progress,' Majety said, adding that the focus is on broadening adoption to 'unlock the next 100 million users in the category.'
What to Watch
Swiggy's path to profitability hinges on whether quick-commerce margins can improve as the dark-store network matures, and whether food delivery EBITDA can sustain its upward trajectory without sequential slippage. With rival Zomato already reporting profits, investor attention will remain firmly on when Swiggy can cross into the black.
Point of View
But the sequential slip in food delivery EBITDA margin — down 22 basis points — is a reminder that the unit economics are not yet locked in. The company is running two capital-intensive races simultaneously: scaling dark stores for quick commerce while defending food delivery share against Zomato. Revenue growth at 37% is impressive, but until adjusted EBITDA turns positive at the consolidated level, the profitability narrative remains a forecast, not a fact. The next two quarters will reveal whether the dark-store network is approaching maturity or still in cash-burn mode.
NationPress
30 Jul 2026
Frequently Asked Questions
What was Swiggy's net loss in Q1 FY27?
Swiggy posted a consolidated net loss of ₹791 crore for Q1 FY27, the quarter ended 30 June 2025. This is down from ₹1,197 crore in Q1 FY26 and slightly narrower than the ₹800 crore loss in the March 2025 quarter.
How much revenue did Swiggy earn in Q1 FY27?
Swiggy's consolidated revenue from operations reached ₹6,812 crore in Q1 FY27, a 37 per cent increase year-on-year from ₹4,961 crore. Sequential growth was also positive, up from ₹6,383 crore in the March quarter, driven by quick-commerce momentum.
How is Swiggy's food delivery business performing?
The food delivery segment reported a gross order value of ₹9,490 crore in Q1 FY27, up 17.4 per cent year-on-year. Monthly transacting users in food delivery reached 19.2 million, an 18 per cent annual increase, while adjusted EBITDA for the segment rose ₹100 crore YoY to ₹292 crore.
What did Swiggy's CEO say about the results?
MD and Group CEO Sriharsha Majety said food delivery economics continue to strengthen as Swiggy innovates on affordability and consumer propositions. He described out-of-home consumption as 'a profitable, fast-growing part' of the business and said the company is focused on unlocking the next 100 million users.
When is Swiggy expected to turn profitable?
Swiggy has not provided a specific profitability timeline. The company's adjusted EBITDA loss narrowed to ₹650 crore in Q1 FY27 from ₹945 crore a year earlier, indicating improving operating leverage, but the company remains loss-making at the consolidated level as it continues to invest in dark-store expansion and user growth.
