Bengaluru, India – Online food delivery and quick commerce platform Swiggy has reported a substantial reduction in its net loss for the first quarter of fiscal year 2026. The company's net loss for the June quarter narrowed to ₹791 crore, a significant improvement from the ₹1,197 crore loss recorded in the same period last year.
Alongside the trimmed losses, Swiggy saw robust revenue growth. Revenue from operations surged by 37% year-on-year, reaching ₹6,812 crore in Q1 2026, up from ₹4,961 crore in the corresponding quarter of the previous fiscal year. This growth highlights the company's expanding market presence and operational efficiency gains.
Operational Performance and Segment Growth
The company's EBITDA loss also saw a notable decrease, falling to ₹650 crore in Q1 2026 from ₹945 crore in Q1 of the prior fiscal year. The core food delivery business demonstrated strong performance, with Gross Order Value (GOV) growing 17.4% year-on-year to ₹9,490 crore. Adjusted EBITDA for the food delivery segment rose by ₹100 crore year-on-year, reaching ₹292 crore.
Swiggy's monthly transacting users (MTUs) for food delivery increased by 17.8% year-on-year, reaching 19.2 million. The company noted that Q1 experienced a seasonal impact on margins, which is expected to normalize throughout the year.
Quick Commerce Reaches Breakeven
A significant milestone highlighted by Swiggy's MD & Group CEO, Sriharsha Majety, was the achievement of contribution breakeven in its quick commerce segment, a target guided a year ago. Majety stated,
“Food delivery economics continue to strengthen as we innovate across affordability and consumer propositions to broaden adoption and unlock the next 100 million users in the category. Out-of-home consumption remains a profitable, fast-growing part of our business, making meaningful progress. In quick commerce, we delivered contribution breakeven exactly as we guided a year ago—a milestone that marks a real inflection point for the business.”
Majety also emphasized the company's strategy for future growth, noting that as base-level assortment in quick commerce becomes commoditized, a differentiated assortment strategy will drive the next phase of growth, with further EBITDA improvement expected from scale-led efficiencies.
Market Reaction
Following the earnings announcement, Swiggy shares closed 3% higher at ₹295.80 in the current trading session, pushing the company's market capitalization to ₹81,650 crore.