Swiggy Q1 Results: Net loss widens to ₹1,197 crore; Quick-commerce continues to bleed

Food delivery aggregator Swiggy Ltd. reported a net loss of ₹1,197 crore for the June quarter, which was nearly double of the ₹611 crore loss it had reported during the same quarter last year.

The losses were led by the Quick Commerce division "Instamart", where the losses widened from the year-ago quarter.

Swiggy's Quick Commerce loss on an Earnings Before Interest and Tax basis (EBIT) widened to ₹797 crore from a loss of ₹379 crore last year.

Revenue for the quarter increased to ₹4,961 crore from ₹3,222 crore during the same quarter last year, implying a growth of 54%.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was a loss of ₹954 crore from a loss of ₹544 crore during the same quarter last year.

Swiggy's Food Delivery business reported revenue of ₹1,799 crore during the quarter, higher than ₹1,515 crore last year. The Quick Commerce revenue increased to ₹806 crore from ₹374 crore on a year-on-year basis.

EBIT for the food delivery business increased to ₹202 crore from ₹67 crore last year. EBIT losses for supply chain and distribution, platform innovations widened from last year.

Shares of Swiggy ended 0.7% higher at ₹403.95. The stock remained above its IPO price of ₹390. Shares are down 25% so far in 2025.

This is a developing story.