Swiggy pivots Instamart to profitability over growth as Amazon, Zepto crowd the quick-commerce race
CEO Majety signals disciplined expansion for Instamart, leaning on private label Noice and differentiated assortment. Q4 revenue rose 53% to ₹1,057 cr but GOV slipped sequentially and loss widened to ₹736 cr. Contribution-margin breakeven targeted by Q1FY27 as Amazon Now scales to 100 cities and Zepto eyes IPO.
What happened
Swiggy Instamart · Swiggy CEO Majety pledges disciplined Instamart growth over volume, betting on private label Noice and differentiated offerings as Amazon Now
Key facts
- Instamart Q4 revenue ₹1,057 cr (+53% YoY)
- Instamart Q4 loss ₹736 cr (-4.5%)
- GOV ₹7,881 cr
- 112 mn orders
- AOV ₹700 vs ₹746
- Food delivery GOV ₹9,005 cr (+22.5%)
- Food delivery Q4 revenue ₹2,073 cr (+27%)
- FY26 food delivery revenue ₹7,832 cr (+23%)
- Food segment profit ₹306 cr (+39%)
- MTU +21%
- Group Q4 revenue ₹6,383 cr (+45%)
- Group Q4 loss ₹800 cr
- FY26 revenue ₹23,053 cr (+51%)
- FY26 loss ₹4,154 cr (+33%)
- Amazon ₹2,800 cr India investment, 1,000 MFCs, 100 cities
- ₹1 trillion medium-term opportunity
- Stock +1.18%
Why this matters
With Amazon Now scaling to 100 cities and Zepto prepping IPO, Swiggy's profitability pivot opens a window for tuck-in acquisitions of regional dark-store operators or private-label brands to accelerate the Noice playbook.