BENGALURU: Food delivery platform Swiggy at the consolidated group level aims to turn operationally profitable by October-December 2025. In its first quarterly earnings since IPO listing, the company reported a net loss of Rs 625.5 crore during Q2 of this fiscal as against a net loss of Rs 657 crore it had posted during Q2FY24. Revenue from operations in Q2 stood at Rs 3,601 crore, a 30% jump as against Rs 2,763 crore Q2FY24.
“At consolidated Group level, we expect to achieve positive adjusted EBITDA by Q3FY26 (Oct-Dec 2025),” the company informed shareholders. Swiggy’s food delivery business is profitable on an adjusted EBITDA basis and it is ramping up margins steadily every quarter. Sriharsha Majety, co-founder, MD & Group CEO, in a letter to shareholders said food delivery business’ GOV (gross order value) grew 5.6% QoQ in Q2FY25.
“The business has ramped up profitability, with adjusted EBITDA margins improving by 1,000 bps over past 2.5 years, to 1.6% in Q2FY25,” he said. Its quick commerce arm Instamart is expanding rapidly and it plans to increase store counts. It added 52 stores in Q2. Swiggy said Bolt (that provides restaurant food delivery in 10 minutes) is available in 400 cities and has already grown to 5% of its food delivery orders within eight weeks of launch.