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Swiggy Limited announced its financial results for the quarter ended September 30, 2025, reporting strong revenue growth but a widening loss compared to the same period last year.

The company’s revenue from operations stood at Rs 5,561 crore in Q2 FY2025, a 54.4 per cent increase from Rs 3,601 crore in Q2 FY2024.

Total income for the quarter rose 52.5 per cent year-on-year to Rs 5,620 crore, up from Rs 3,686 crore in the corresponding quarter last year.

Total expenses during the quarter increased 55.8 per cent to Rs 6,711 crore, compared to Rs 4,309 crore in Q2 FY2024.

The rise in expenditure was driven by higher costs in advertising and sales promotion (Rs 1,039 crore), delivery and related charges (Rs 1,426 crore), and purchases of stock-in-trade (Rs 2,330 crore).

Swiggy reported a net loss of Rs 1,092 crore for Q2 FY2025, widening from Rs 626 crore in the same quarter last year.

The company attributed the increased loss primarily to higher spending on marketing, delivery operations, and employee-related expenses.

The company’s Board of Directors will meet on November 7, 2025, to consider and approve a proposal to raise up to Rs 10,000 crore through various modes, including qualified institutional placement (QIP) or other permissible methods, subject to necessary approvals.

Swiggy’s overall platform continued to expand, with Average Monthly Transacting Users (MTU) rising 34 per cent year-on-year to 22.9 million. Consolidated adjusted revenue grew 52.6 per cent YoY to Rs 5,911 crore.

The company’s consolidated adjusted EBITDA loss narrowed quarter-on-quarter to Rs 695 crore, improving by Rs 118 crore, though the B2C adjusted EBITDA margin stood at -3.6 per cent.

In the food delivery business, Gross Order Value (GOV) increased 18.8 per cent year-on-year to Rs 8,542 crore. Swiggy added 0.9 million new users during the quarter, taking total food delivery MTUs to 17.2 million, up 17.2 per cent YoY.

Adjusted EBITDA in this segment rose 25.4 per cent sequentially to Rs 240 crore, with the adjusted EBITDA margin improving to 2.8 per cent of GOV — an increase of 125 basis points year-on-year.

Swiggy’s quick-commerce arm, Instamart, continued to record strong traction, with GOV growing 107.6 per cent year-on-year and 24.2 per cent sequentially to Rs 7,022 crore.

The company added 40 new dark stores during the quarter, bringing the total to 1,102 across 128 cities. The total active dark store area rose 135.8 per cent YoY to 4.6 million sq. ft.

Average order value (AOV) in the quick-commerce business increased around 40 per cent year-on-year to Rs 697, supported by a broader product mix and larger basket sizes.

Contribution losses in this segment reduced 30 per cent sequentially to Rs 181 crore, while adjusted EBITDA margin improved by 375 basis points QoQ to -12.1 per cent, with overall losses narrowing by Rs 47 crore.

Anubhav Maurya is a Senior Sub-Editor at Zee Business, focusing on the stock market, personal finance, corporate news, and related sectors.

He has previously worked wi