Swiggy announced accelerated growth in food delivery with GOV up 20.5% YoY. Quick commerce continues strong growth above 100% YoY. The platform’s average MTU increased 37% YoY, reaching 24.3 million, with over 36% of users utilizing multiple services. Adjusted EBITDA in food delivery reached INR 272 Cr, indicating significant improvements in operating margins. Instamart GOV also rose by 103% YoY.
Food Delivery Performance
Swiggy’s Food Delivery business showcased significant growth, with Gross Order Value (GOV) increasing by 20.5% YoY, reaching INR 8,959 crore. The number of users (MTUs) grew 22% YoY to 18.1 million. Adjusted EBITDA Margin improved to 3.0% of GOV, representing an increase of +56bps YoY and 22bps QoQ, which is the highest in the last two years.
Quick Commerce (Instamart) Growth
Instamart’s GOV experienced substantial growth, rising by 103% YoY, to INR 7,938 crore. The company selectively added 34 dark stores, bringing the total to 1136 dark stores across 131 cities, covering 4.8 million sq ft. The average order value increased by 39.7% YoY to INR 746. Contribution margin improved to -2.5%, a rise of 9 bps QoQ. The overall Quick Commerce loss for the quarter was INR 908 Cr, and Adjusted EBITDA margin improved further to -11.4% from -12.1% in Q2.
Out of Home Consumption
The Out of Home Consumption segment maintained its profitable trajectory, achieving a 49% YoY GOV growth, and Adjusted EBITDA margins grew to 0.7% of GOV.
Overall Platform Growth
The platform’s Average MTU increased by 37% YoY, reaching 24.3 million, with over 36% of all users utilizing more than one service on the platform.
Strategic Direction
Swiggy continues to accelerate user growth and gross order value in food delivery. In quick commerce, the company is focused on deepening wallet penetration and expanding differentiated assortment across categories to strengthen engagement and order value. The company emphasizes disciplined fiscal prudence and a distinctive product offering to drive sustained momentum toward contribution margin breakeven.
Source: BSE
