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SWIGGY · Swiggy Limited · BSE · Filed 30 Jul · 1 min read

Swiggy Q1 FY27: Instamart Hits Contribution Break-Even in May as Losses Shrink

The company reported that its Instamart quick-commerce arm reached contribution break-even in May 2026, even as the segment stayed loss-making for the quarter.

What was filed

Swiggy submitted a press release to the BSE and NSE covering its unaudited financial results for the quarter ended June 30, 2026. The disclosure centres on two developments the company treats as central: continued profitability improvement in food delivery, and a stated contribution break-even in its Instamart quick-commerce business during May 2026 — described by MD & Group CEO Sriharsha Majety as arriving "exactly as we guided a year ago."

Across the segments

Food delivery gross order value rose year-on-year. The company notes that restaurant-driven cancellations tied to LPG supplies early in the quarter dampened the reported figure, and estimates like-for-like growth would have been about 18% YoY. Food delivery adjusted EBITDA moved further into positive territory, though the company flags a seasonal margin impact and an annual wage hike during the quarter.

Instamart's contribution margin improved to close to break-even, even as the segment posted an overall loss for the quarter. Out-of-home consumption is described as a profitable, fast-growing part of the business, and the company said its budget delivery service Toing has expanded to 50 cities.

Why it matters to a holder

For a business that has been reporting losses in quick commerce, a stated contribution break-even is the operating milestone the company itself frames as an inflection point. The filing pairs continued revenue growth with narrowing quick-commerce losses, giving holders a read on the trajectory of the two businesses that anchor the group. The results are unaudited.

Overall revenue (Q1 FY27)
INR 7,112 Cr
Revenue growth YoY
34.0%
Food Delivery GOV
INR 9,490 crore
Food Delivery Adjusted EBITDA
INR 292 Cr
Food Delivery Adjusted EBITDA margin
3.1%
Instamart (Quick Commerce) GOV
INR 7,907 crore
Quick Commerce contribution margin
-0.2% of GOV
Quick Commerce Adjusted EBITDA margin
-9.8%
Quick Commerce overall loss
INR 778 crore
Darkstores total
1,171 stores
Platform MTUs
27.5 million
Out-of-Home GOV growth
44.8% YoY

The results cover the profitability path of Swiggy's food delivery and quick-commerce businesses, with the company reporting a contribution break-even milestone in quick commerce alongside a still-loss-making quarter for that segment. The figures are unaudited and the filing carries forward-looking-statement caveats.

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