Swiggy reported strong revenue growth for the financial year ending March 2026, driven by rapid expansion across its food delivery, quick commerce, and supply chain businesses. Despite the sharp rise in income, the company continued to post losses as spending on expansion, advertising, and operations remained high.
Swiggy’s consolidated revenue from operations surged 51% year-on-year to Rs 23,053 crore in FY26, compared to Rs 15,227 crore in the previous financial year. The company’s total income stood at Rs 23,561 crore during the year.
The supply chain and distribution business emerged as Swiggy’s largest revenue contributor, generating Rs 10,935 crore during FY26. Food delivery operations contributed Rs 7,832 crore, while the company’s quick commerce segment added Rs 3,859 crore in revenue.
Additional revenue also came from out-of-home consumption services such as Dineout and platform innovation initiatives.
However, rising operational expenses continued to impact profitability. Swiggy’s consolidated net loss widened to Rs 4,154 crore in FY26 from Rs 3,117 crore in FY25. The increase in losses was mainly due to higher spending on advertising, employee benefits, delivery operations, and expansion initiatives.
Advertising and sales promotion expenses alone crossed Rs 4,207 crore during the financial year. Finance costs rose to Rs 200 crore, while depreciation and amortisation expenses increased significantly to Rs 1,217 crore.
In the fourth quarter of FY26, Swiggy delivered particularly strong performance. Revenue from operations jumped 44.7% to Rs 6,383 crore compared to Rs 4,410 crore in the same quarter last year.
At the same time, the company managed to reduce its quarterly losses. Net loss narrowed 26% to Rs 800 crore in Q4 FY26 from Rs 1,081 crore in Q4 FY25, indicating improving profitability trends as revenue growth outpaced expenses.
During the quarter, Swiggy’s supply chain and distribution segment generated Rs 3,135 crore in operating revenue, up sharply from Rs 2,004 crore a year earlier.
Food delivery revenue rose 27.4% to Rs 2,075 crore, while quick commerce revenue witnessed an impressive 53% growth to Rs 1,057 crore.
The company also earned Rs 266 crore as other income during the quarter, taking its total income to Rs 6,649 crore.
Total quarterly expenses increased to Rs 7,448 crore from Rs 5,610 crore in the corresponding period last year, largely because of procurement costs for FMCG products, employee expenses, delivery operations, and promotional spending.
Swiggy’s balance sheet also strengthened considerably during FY26 after the company raised fresh capital. Total consolidated assets increased to Rs 25,237 crore as of March 31, 2026, compared to Rs 15,205 crore a year earlier. Cash and cash equivalents more than doubled to Rs 2,747 crore.
The company generated a net cash inflow of Rs 9,397 crore from financing activities during FY26, mainly due to Rs 10,000 crore raised through a Qualified Institutions Placement (QIP).
Despite this, Swiggy continued to burn cash in its operations. Net cash outflow from operating activities rose to Rs 2,898 crore during FY26, compared to Rs 2,169 crore in the previous year.
On a standalone basis, Swiggy reported revenue from operations of Rs 8,258 crore, up from Rs 6,667 crore in FY25. The company posted a profit of Rs 416 crore from continuing operations. However, losses from discontinued operations amounting to Rs 3,835 crore led to an overall standalone loss of Rs 3,419 crore for the year.
Commenting on the results, Sriharsha Majety said the food delivery business recorded its strongest growth pace in nearly four years and crossed Rs 1,000 crore in annual adjusted EBITDA.
He added that Swiggy’s out-of-home business continues to grow profitably, while the quick commerce segment is now entering a phase focused on anticipating consumer needs rather than simply delivering products quickly.
According to Majety, the company’s unit economics are improving every quarter, and Swiggy remains on track to achieve contribution margin breakeven in quick commerce as planned. He also highlighted that the company’s strong balance sheet provides room for disciplined growth and expansion going into FY27.
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