Swiggy Q2 net loss widens to Rs 1,092 crore; mulls raising Rs 10,000 crore fund via QIP

Bengaluru: Food delivery platform Swiggy on Thursday reported a net loss of Rs 1,092 crore for the quarter ended September 2025, compared to Rs 626 crore loss it had posted during the year-ago period. Its revenue from operations stood at Rs 5,561 crore, a 54% increase compared to Rs 3,601 crore in the same quarter last year. The aggregator also announced that it will consider raising Rs 10,000 crore in the board meeting to be held on November 7 through a qualified institutional placement (QIP).

"Pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, November 07, 2025, to inter-alia consider and approve the raising of funds by way of public or private offerings including through one or more qualified institutions placement or any other permitted modes under applicable laws for equity shares/securities to the eligible investors, not exceeding INR 10,000 Crores, in one or more tranches and/or by way of one or more issuances, as may be permitted," it said in a BSE filing.

In the second quarter, the platform's average Monthly Transacting Users (MTU) grew 34% y-o-y to 22.9 million.

"Food delivery continued its growth trajectory in line with our guidance, with a steady 18.8% YoY GOV (gross order value) growth even amidst volatile macro-consumption trends and higher-than-usual rainfall. Led by competitive action, subscription programmes expanded their ambit even further. Despite the recent narrative on platform fee hikes, the total cost of service for users (delivery fee + platform fee + cost of membership programme) remains 5-6% of AOV (average order value) over the last 3 years, underpinning our focus on affordability," Sriharsha Majety, Co-founder, MD & Group CEO, Swiggy, said in his letter to shareholders.

The platform's quick-commerce business, Instamart, delivered a 108% YoY GOV growth, clocking a GOV of Rs 7,022 crore. It added 40 dark stores to reach 1102 stores across 128 cities, and grew the average size of its dark stores further to 4,160 sq ft, driving up active darkstore area to 4.6 Mn sq ft. Also, the average order value grew 40% YoY to Rs 697, led by continued expansion of non-grocery selection and larger-basket buying behaviour across user cohorts, Swiggy said.

Swiggy also added that they believe that quick commerce is poised to continue growing at a very fast clip, and Instamart is well placed to capture the incremental category growth with both new users and new purchase missions continuing to get attached to the platform.