The company’s management attributed the higher losses to scale-driven growth across verticals and reiterated its focus on long-term sustainable profitability. CEO Sriharsha Majety said continued investments aligned to its vision of creating convenience at scale.
Despite the topline growth, total expenses surged 60% YoY to Rs 6,244 crore, led by higher delivery costs, advertising spends, employee benefits, and logistics expenses in the quick commerce segment.
Delivery-related costs alone stood at Rs 1,313 crore while advertising and promotion spend was Rs 1,036 crore. EBITDA margin remained in negative territory due to continued investments in growth verticals and mounting operating costs.
Segment-wise, food delivery posted a revenue of Rs 1,799 crore and remained profitable with a segment result of Rs 202 crore.
Quick commerce, largely through Instamart, recorded Rs 806 crore in revenue but reported a steep segment loss of Rs 797 crore. Supply chain and distribution revenue stood at Rs 2,259 crore but remained loss-making with a segment result of Rs 47 crore.The company also reported other income of Rs 87 crore, and recorded a minor Rs 1 crore share of loss from associate Loyal Hospitality. There were no exceptional items in the quarter.
Swiggy continues to invest heavily in expanding its ecosystem beyond food delivery—into quick commerce, dining out, event experiences, supply chain services, and new experimental products through its ‘Platform Innovations’ vertical.
On Thursday, Swiggy shares closed 0.7% higher at Rs 403.95 on NSE.
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