Swiggy Q4 loss narrows 26% to ₹800 Cr as revenue jumps 45% to ₹6,383 Cr
Food Delivery adj EBITDA grew 40% YoY to ₹297 Cr on 23% revenue growth. Instamart GOV surged 69% to ₹7,881 Cr across 1,143 dark stores in 129 cities, but EBITDA losses widened to ₹858 Cr. FY26 loss widened 33% to ₹4,154 Cr even as revenue rose 51% to ₹23,053 Cr.
What happened
Swiggy's Q4 FY26 loss narrowed 26% YoY to ₹800 Cr on revenue up 45% to ₹6,383 Cr. Food Delivery EBITDA grew 40%, Instamart GOV jumped 69% but losses widened.
Key facts
- Q4 FY26 loss ₹800 Cr (-26% YoY)
- Q4 revenue ₹6,383 Cr (+44.7% YoY)
- Q4 total expenses ₹7,448 Cr (+32.8% YoY)
- Q4 adj EBITDA loss ₹652 Cr (-11% YoY)
- FY26 loss ₹4,154 Cr (+33% YoY)
- FY26 revenue ₹23,053 Cr (+50.8% YoY)
- B2C GOV ₹18,131 Cr (+40.7% YoY)
- Q4 orders 30.1 Cr (+22.4% YoY)
- MTUs 2.5 Cr (+27.2% YoY)
- platform frequency 4.01 (-5%)
- Food Delivery adj revenue ₹2,304 Cr (+23.4% YoY)
- Food Delivery adj EBITDA ₹297 Cr (+40% YoY)
- Food Delivery GOV ₹9,005 Cr (+22.6% YoY)
- Food Delivery MTUs 1.8 Cr (+21%)
- Instamart adj revenue ₹1,090 Cr (+48.7% YoY)
- Instamart adj EBITDA loss ₹858 Cr (+2% YoY)
- Instamart GOV ₹7,881 Cr (+68.8% YoY)
- Instamart AOV ₹700 (+33% YoY)
- Instamart orders 11.3 Cr (+27% YoY)
- 1,143 dark stores across 129 cities
- dark store utilisation 40% vs 36%
- DineOut adj EBITDA ₹10 Cr (5X YoY)
- DineOut adj revenue ₹123 Cr (+73.2% YoY)
- Platform Innovations adj revenue ₹13 Cr (-70.4% YoY)
- B2B revenue ₹3,135 Cr (+56.4% YoY)
Why this matters
Instamart's 69% GOV surge to ₹7,881 Cr across 129 cities creates a defensible quick-commerce footprint worth consolidating around, but widening losses make this the window for strategic capital partnerships or category-specific JVs before burn forces dilutive raises.