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Swiggy reports Rs 922 crore loss in Q2 despite revenue growth
Swiggy Ltd reported a consolidated net loss of Rs 922 crore for the September quarter of FY27 (Q2FY27), an improvement from the Rs 1,092 crore loss reported in the same quarter of the previous fiscal year. While the company's revenue from operations rose 36% year-on-year to Rs 7,571 crore, total expenses increased to Rs 8,703 crore.
The bulk of the losses originated from the quick-commerce segment, Instamart, which recorded an adjusted EBITDA loss of Rs 895 crore. Instamart's net order value grew 31.4% year-on-year to Rs 6,954 crore, supported by the addition of 69 darkstores, bringing the total to 1,240 stores across 133 cities.
In contrast, the food delivery business showed improved performance, with gross order value surging 17.7% year-on-year to Rs 10,054 crore. The adjusted EBITDA for this segment grew to Rs 341 crore, up from Rs 240 crore a year ago, with margins improving to 3.4% of gross order value.
Following the results, several brokerages adjusted their targets for Swiggy. Goldman Sachs, HSBC, CLSA, Bernstein, JPMorgan, and Citi all lowered their price targets for the company, citing concerns over Instamart's profitability and the widening of adjusted EBITDA losses.
Entities
Bengaluru · Goldman Sachs · Instamart · Sriharsha Majety · Swiggy Ltd
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The food delivery segment's adjusted EBITDA grew to Rs 341 crore. www.newindianexpress.com
- [○ 1 SOURCE] Goldman Sachs cut its target on Swiggy to Rs 263 from Rs 328. www.businesstoday.in
- [○ 1 SOURCE] Swiggy reported a consolidated net loss of Rs 922 crore for the September quarter of FY27. www.newindianexpress.com
- [○ 1 SOURCE] Swiggy's food delivery gross order value increased 17.7% year-on-year to Rs 10,054 crore. www.newindianexpress.com
- [○ 1 SOURCE] Revenue from operations rose 36% year-on-year to Rs 7,571 crore in Q2FY27. www.newindianexpress.com
- [○ 1 SOURCE] Instamart's net order value grew 31.4% year-on-year to Rs 6,954 crore. www.newindianexpress.com
- [● 2 SOURCES] Instamart reported adjusted EBITDA losses of Rs 895 crore for the quarter. www.businesstoday.in · www.newindianexpress.com
- [○ 1 SOURCE] HSBC lowered its target for Swiggy to Rs 240 from Rs 315. www.businesstoday.in