When the Q2 FY26 results of Swiggy landed, the conversation inside the market shifted instantly. Traders opened their screens expecting mixed cues, but the numbers told a more layered story—a business scaling fast, losing more money, yet expanding across its core engines.
For anyone tracking the Swiggy share price, the Swiggy stock price, or the company’s growth curve ahead of its potential listing, these quarterly results offer a sharp snapshot of where the company stands.
Let’s break it down through the lens of stock market today, one steady step at a time.
Market Performance: What the Numbers Signalled
The headline figures caught immediate attention. Swiggy’s loss widened, but its topline told a different story.
Here are the key financials from Q2 FY26:
- Consolidated Loss: ₹1,092 crore (vs ₹626 crore YoY)
- Net Profit: ₹5,561 crore (up 54% YoY)
- Adjusted EBITDA Loss: ₹695 crore (vs ₹341 crore YoY)
- Sequential EBITDA Improvement: ₹118 crore
The contrasting movement between a higher loss and a rising net profit set the tone—a company still investing heavily in growth.
Main News: What Drove Swiggy’s Q2 FY26 Performance
The Q2 earnings showed a platform expanding its user base and strengthening order volumes across segments. Each business line carried its own momentum, and together they painted a story of scale.
1. Quick Commerce Takes the Lead
Swiggy’s quick commerce arm continued to be its strongest engine.
- GOV Growth: 107.6% YoY
- GOV Value: ₹7,022 crore
- New MTUs Added: 0.9 million
- AOV Growth: ~40% YoY (₹697)
This was the third straight quarter of 100%+ GOV growth, backed by faster delivery speeds, bigger baskets, and expanded non-grocery selections.
2. Food Delivery Steady and Profitable
Despite uneven consumption trends in the market, Swiggy’s food delivery business held its ground.
- Food Delivery GOV: ₹8,542 crore
- GOV Growth: 18.8% YoY
- MTU Growth: 17.2% YoY (0.9 million MTUs added)
The platform saw rising customer activity even as it navigated a competitive landscape and higher rainfall in several regions.
3. Out-of-Home Segment Quietly Expands
While not the headline driver, this segment showed solid growth.
- GOV: ₹1,118 crore
- Growth: 52% YoY
- Adjusted EBITDA Margin: 0.5%
A business that often runs in the background is now building a stronger base through rising discretionary spending.
4. Cash Burn Eases Sequentially
The company’s cash position showed moderation.
- Cash Reserves Decline: ₹749 crore (vs ₹1,341 crore in Q1)
- Reason: Improved EBITDA and lower capital outflows
The slower depletion indicates tighter cost control and better operating efficiency.
5. ₹10,000 Crore Fundraise Consideration
Swiggy’s board will meet to evaluate raising ₹10,000 crore through a QIP.
The motivation sits against a backdrop of a rapidly evolving competitive environment and the company’s need to maintain financial agility for future expansion.
Company Details: Segment-Wise Snapshot
Each segment in Swiggy’s portfolio showed distinct performance patterns.
Quick Commerce
- Strong YoY acceleration
- Higher order values
- Consistent triple-digit GOV growth
Food Delivery
- Steady expansion
- Higher user participation
- Growing MTU base
Out-of-Home Consumption
- Over 50% YoY growth
- Positive EBITDA margins
Together, these businesses underline a company scaling operations at pace, even as costs remain high due to expansion and category competition.
Summary of the Article
Swiggy Q2 FY26 results revealed a quarter full of contrasts—higher losses, stronger revenue, expanding user base, and a diversified growth engine.
Key takeaways:
- Loss widened to ₹1,092 crore
- Net profit surged 54% YoY to ₹5,561 crore
- Adjusted EBITDA loss stood at ₹695 crore
- Quick commerce GOV jumped 107.6% YoY
- Food delivery GOV climbed to ₹8,542 crore
- Out-of-home consumption grew 52% YoY
- Cash burn eased to ₹749 crore
- Board to consider raising ₹10,000 crore
The numbers show a platform investing heavily in scale while navigating a dynamic and crowded market landscape.
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