Food delivery giant Swiggy has unveiled its fiscal fourth quarter earnings, revealing a substantial loss of ₹1,081.18 crore, a steep increase from the ₹553.70 crore loss reported during the same period last year. Despite these financial challenges, the company achieved impressive revenue growth, posting ₹4,410.02 crore in operational revenue—an impressive 44.80% increase from ₹3,045.55 crore in the previous year. Additionally, Swiggy’s EBITDA loss for the quarter reached ₹962 crore.

Insights from Swiggy’s Leadership

Sriharsha Majety, the Managing Director and Group CEO of Swiggy, emphasized the significance of the fiscal year 2025, calling it a year filled with milestones. "We launched several innovative apps, including Instamart, Snacc, and Pyng, aimed at tapping into new user segments and expanding our market reach," he stated.

As of March 31, 2025, Swiggy reported a robust cash reserve of ₹6,695 crore, positioning the company well for future growth.

Swiggy’s Business Vertical Performance

Food Delivery Earnings

Swiggy’s Food Delivery segment generated a revenue of ₹1,629.31 crore in the fourth quarter, reflecting an 18% year-over-year increase. The Gross Order Value (GOV) aligned with expectations, growing by 17.6% year-on-year to ₹7,347 crore. Notably, Swiggy’s adjusted EBITDA surged over 5x year-on-year to ₹212 crore, largely due to improved efficiency and execution, which expanded profit margins to 2.9% of GOV—up from 0.5% a year earlier. The number of monthly active users rose by 2.2 million, reaching 15.1 million in total.

Majety added, "Although Q4 is typically slower due to the post-festival lull, we saw a boost from a major sporting event later in the quarter. We are committed to maintaining our annual growth guidance of 18-22% over the medium term."

Instamart Growth Surge

In a remarkable performance, Swiggy Instamart recorded revenues of ₹689.05 crore in Q4, marking an astounding 114.85% year-on-year growth. The GOV for Instamart skyrocketed by 101%, totaling ₹4,670 crore. The average order value also rose by 13.3% year-on-year to ₹527. During this quarter, Swiggy added a record 316 dark stores, bringing the total to 1,021 stores by the end of March. Majety explained, "The quick-commerce sector is experiencing rapid growth and fierce competition, prompting us to increase investments for market expansion and differentiation."

Out of Home Consumption Breakthrough

Swiggy’s Out of Home Consumption division reported revenues of ₹67.10 crore for Q4, with a 41.6% year-on-year GOV increase. This segment achieved profitability with an adjusted EBITDA margin of 0.3%. Majety noted, "Our Out of Home Consumption segment turned profitable within just two years of its integration, and we are dedicated to delivering exceptional convenience to our consumers."

Conclusion

Despite facing a considerable loss, Swiggy’s strategic initiatives and diverse business verticals are positioning the company for future success. With strong cash reserves and expanding services, Swiggy continues to innovate in the competitive food delivery and quick-commerce landscape.