Swiggy Q1 Results FY27: Net Loss Narrows to ₹791 Crore; Revenue Jumps 37% YoY on Strong Quick Commerce Growth

Swiggy Q1 Results FY27

Swiggy delivered another quarter of strong revenue growth in Q1 FY27 while continuing its path toward profitability. The company reported a significantly lower net loss as its quick commerce business maintained strong momentum and food delivery operations continued to expand.

Revenue increased sharply during the quarter, supported by higher order volumes, growing monthly active users, and an expanding dark-store network.

Financial Highlights

Swiggy reported healthy year-on-year growth across its key financial metrics.

Q1 FY27 Highlights

Net Loss: ₹791 crore

Q1 FY26 Net Loss: ₹1,197 crore

Revenue from Operations: ₹6,812 crore

Revenue Growth: 37% YoY

Q4 FY26 Revenue: ₹6,383 crore

EBITDA Loss: ₹650 crore

Q1 FY26 EBITDA Loss: ₹945 crore

The company's losses continued to narrow while revenue reached another quarterly high.

User Growth Continues

Swiggy continued adding new customers across its platform.

Platform Metrics

Average Monthly Transacting Users (MTUs): 27.5 million

MTU Growth: 27.4% YoY

Sequential Growth: 9.2%

Consolidated Adjusted Revenue: ₹7,112 crore

Growth: 34% YoY

The company also reported an improvement in its B2C adjusted EBITDA margin, reflecting better operating efficiency.

Food Delivery Business

Swiggy's core food delivery segment remained a steady contributor to growth.

Food Delivery Highlights

Gross Order Value (GOV): ₹9,490 crore

GOV Growth: 17.4% YoY

Monthly Transacting Users: 19.2 million

User Growth: 18% YoY

Adjusted EBITDA: ₹292 crore

Adjusted EBITDA Margin: 3.1% of GOV

The business added approximately 0.9 million active users during the quarter while maintaining positive operating performance.

Quick Commerce Maintains Momentum

Quick commerce continued to be one of Swiggy's fastest-growing businesses.

Quick Commerce Highlights

Gross Order Value (GOV): ₹7,907 crore

Growth: 39.8% YoY

Net Order Value (NOV): ₹5,817 crore

NOV Growth: 38.9% YoY

Dark Stores: 1,171

Cities Served: 131

Dark Store Area: Over 4.9 million sq. ft.

Net Average Order Value (nAOV): ₹508

Growth was supported by larger basket sizes, increasing contribution from non-grocery categories, and continued expansion of the company's fulfillment network.

Operating Performance

Swiggy reported noticeable improvement in profitability metrics across both businesses.

Key Improvements

• EBITDA loss narrowed compared to last year.
• Contribution margin improved significantly.
• Adjusted EBITDA losses reduced sequentially.
• Operating efficiency continued to improve despite ongoing investments in quick commerce expansion.

These trends indicate gradual progress toward sustainable profitability.

Share Price Snapshot

Swiggy shares have gained nearly 30% compared to their listing price, reflecting improving investor confidence in the company's long-term growth prospects.

Investors will continue monitoring profitability, quick commerce expansion, and customer growth in the coming quarters.

What This Means for Investors

Swiggy's Q1 FY27 performance highlights continued strength across both food delivery and quick commerce. Revenue growth remained robust while losses narrowed further, supported by rising user engagement and improving operating metrics.

The company's expanding dark-store network, healthy order growth, and improving margins indicate progress toward long-term profitability. Going forward, investors are likely to watch whether Swiggy can maintain strong revenue growth while continuing to reduce losses and improve operating leverage amid increasing competition in India's quick commerce sector.

Disclaimer

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