Swiggy Reports Impressive Growth in Q2 FY27
Swiggy, a leading foodtech and quick commerce platform, has demonstrated remarkable growth with a 36.1% rise in operating revenue, reaching Rs 7,571 crore in Q2 FY27 compared to Rs 5,561 crore in Q2 FY26. Its net losses have also reduced by 15.6%, bringing them down to Rs 922 crore from Rs 1,092 crore in the same period last year.
Strong Performance in the First Half of FY27
In the first half of FY27, Swiggy’s operating revenue surged by 36.7% year-on-year, hitting Rs 14,383 crore, an increase from Rs 10,522 crore in H1 FY26. The company’s supply chain and distribution arm, Scootsy Logistics, was the foremost revenue source, making up nearly 49% of its operating revenue. This segment saw a year-on-year increase of 44.1%, generating Rs 3,690 crore in Q2 FY27, up from Rs 2,560 crore last year.
Growth in Food Delivery and Quick Commerce Sectors
Swiggy’s food delivery and quick commerce divisions also exhibited considerable growth during the quarter. Revenue from food delivery climbed by 21.6%, reaching Rs 2,338 crore, up from Rs 1,923 crore. Meanwhile, quick commerce revenue jumped by 33.3% to Rs 1,306 crore, up from Rs 980 crore. Additional revenue came from dine-out services and other platforms such as Bolt and Toing.
Other Income and Total Revenue
The Bengaluru-based company reported Rs 212 crore in other income, an increase from Rs 59 crore in the corresponding quarter of the previous year. This contributed to total income rising to Rs 7,783 crore in Q2 FY27 from Rs 5,620 crore in Q2 FY26.
Expense Breakdown
On the expenditure side, Swiggy observed a 47% escalation in the cost of materials, amounting to Rs 3,443 crore in Q2 FY27 compared to Rs 2,342 crore in Q2 FY26. Delivery and related expenses rose by 32.9% to Rs 1,895 crore, while advertising and promotional costs grew by 24.9% to Rs 1,298 crore. Employee benefit expenses decreased by 2% to Rs 676 crore. This culminated in total expenditure for the quarter reaching Rs 8,703 crore, a 29.7% increase year-on-year.
Overall Financial Overview
Swiggy’s net losses narrowed by 15.6% year-on-year to Rs 922 crore in Q2 FY27 from Rs 1,092 crore last year. The company’s overall losses for H1 FY27 reduced by 25.2%, standing at Rs 1,713 crore in comparison to Rs 2,289 crore in the first half of the previous fiscal year. Swiggy’s shares closed at Rs 211.30 on Thursday, establishing a market capitalisation of Rs 61,403 crore.
Competitive Landscape
On the competitive front, rival Eternal (previously known as Zomato) reported its operating revenue at Rs 24,138 crore in Q2 FY27, up from Rs 13,590 crore in Q2 FY26. Additionally, the company made a profit of Rs 125 crore during the quarter, an increase from Rs 65 crore the previous year.