Swiggy's Q2 loss widens as bullish marketing, delivery costs outpace revenue

Swiggy’s losses widened on a year-on-year basis in the quarter ended September 30 as higher spending on marketing, logistics, and inventory outpaced revenue growth.

Swiggy posted revenue from operations of Rs 5,561 crore in Q2 FY26, up sharply from Rs 3,601 crore earned a year earlier. Total revenue climbed to Rs 5,620 crore.

However, the rise in revenue couldn’t outstrip expenses, which climbed 55.7% to Rs 6,711 crore from Rs 4,309 crore in Q2 FY25. As a result, Swiggy’s net loss widened to Rs 1,092 crore, from Rs 626 crore a year earlier.

Purchases of stock-in-trade also contributed to the rising expenses, jumping 68.4% YoY to Rs 2,330 crore, while advertising and sales promotion expenses almost doubled to Rs 1,039 crore as the company intensified marketing efforts. Meanwhile, delivery and related charges increased 30.2% YoY to Rs 1,426 crore.

(More details to follow.)