Swiggy narrows June-quarter loss as food delivery and Instamart GOV accelerate

Swiggy’s consolidated net loss narrowed to Rs 791 crore from Rs 1,197 crore a year earlier, while revenue rose 37.31% to Rs 6,812 crore. Food delivery GOV grew 17.4% and Instamart GOV climbed 39.8%, with Instamart’s contribution margin improving to negative 0.2%.

— Source publishedFri, 31 Jul, 2026, 14:25 IST·First seen Fri, 31 Jul, 2026, 14:34 IST·Source Financial Express · BrandWagon

What happened

Swiggy reported improved June-quarter profitability, with losses narrowing as food delivery and Instamart GOV grew. The market roundup also highlighted strong

Key facts

  • Swiggy consolidated net loss narrowed to Rs 791 crore from Rs 1,197 crore year-on-year
  • Swiggy revenue rose 37.31% year-on-year to Rs 6,812 crore
  • Swiggy EBITDA loss reduced 31.87% to Rs 650 crore
  • Food delivery GOV rose 17.4% to Rs 9,490 crore
  • Instamart GOV rose 39.8% to Rs 7,907 crore
  • Instamart contribution margin improved to negative 0.2%
  • Bajaj Finserv profit rose 12.31% to Rs 3,132.35 crore and revenue increased 19.13% to Rs 42,036.90 crore
  • Bajaj Finance net profit rose 27% to Rs 5,986 crore and AUM grew 24% to Rs 5,46,944 crore

Why this matters

Instamart’s rapid growth and improving contribution margin make quick commerce the strategic battleground, raising the value of logistics, dark-store, assortment and merchant partnerships that can reinforce Swiggy’s scale.

What to watch

  • Whether Instamart contribution margin turns positive and remains positive despite expansion.
  • Sequential trends in consolidated adjusted EBITDA loss, not only reported net loss.
  • Instamart GOV growth relative to dark-store additions, indicating whether new capacity is productive.
  • Competitive pricing, free-delivery and expansion actions by Blinkit and Zepto.
  • Food-delivery GOV growth, take-rate trends and advertising revenue growth.
  • Changes in Swiggy One membership benefits, pricing or cross-platform penetration.
  • Prioritize dark-store expansion in high-density catchments where order frequency can quickly absorb fixed costs.
  • Use Swiggy One, restaurant delivery and Instamart cross-sell to lower customer-acquisition costs and increase order frequency.
  • Shift Instamart assortment toward higher-margin private labels, fresh, beauty and impulse categories rather than relying primarily on discount-led grocery baskets.
  • Increase retail-media and brand-funded promotions on Instamart to turn rising traffic into non-transaction revenue.
  • Maintain disciplined incentives and reduce delivery-radius inefficiencies as contribution margin moves toward positive territory.