Swiggy Q4 Loss Narrows as Food Delivery Sees Strongest Growth in Years

India’s food and grocery delivery platform Swiggy reported a narrower fourth-quarter loss, helped by strong growth in its core food delivery business. The company said rising orders, expanding user numbers, and affordable offerings such as “99-Store” and restaurant marketplace “Toing” boosted demand. CEO Sriharsha Majety noted that the food delivery segment delivered its best growth in nearly four years while crossing 10 billion rupees in annual adjusted EBITDA.

Swiggy’s food delivery gross order value rose 23% year-on-year to 90.05 billion rupees during the March quarter. Its quick commerce arm, Instamart, also posted strong momentum, with gross order value jumping nearly 69% to 78.81 billion rupees. The company said it improved profitability by reducing low-value orders and focusing on higher average order value customers, helping Instamart’s contribution margin improve sequentially.

The company’s consolidated quarterly loss narrowed by about 25% to 8 billion rupees, while revenue from operations increased nearly 4%. Swiggy continues to compete aggressively in India’s booming quick-commerce market against rivals including Amazon, Walmart-backed Flipkart, Reliance, Zepto, and Eternal, as demand for rapid grocery and food delivery services continues to grow across the country.