Instamart races ahead of Swiggy’s food delivery segment, sees 115% surge in revenue for Q1 FY26

Food aggregator Swiggy has registered an 52% increase in its total income to ₹5,048 crore in the June quarter this fiscal, from ₹3310 crore a year ago, on the back of strong growth in quick commerce arm.

Revenue from the food delivery segment grew 18.57% year-on-year to ₹1800 crore from ₹1518 crore last year, while its quick commerce arm, Instamart saw a whopping 115% surge in revenue to ₹806 crore from ₹374 crore, due to 26% higher average order value on a yearly basis. Net loss for the period stood at ₹1197 crore, up 95.9% from ₹611 crore a year ago.

The Out of Home Consumption segment sustained its profitable trajectory with a 61% year-on-year rise in Gross Order Value (GOV), while Adjusted EBITDA margins improved to 0.5% of GOV. The platform’s Average Monthly Transacting Users (MTU) grew 35% YoY to 21.6 million, with 35% of users engaging with more than one service. Overall, Platform B2C GOV surged nearly 45% YoY to ₹14,797 crore.

“Swiggy’s food delivery business continues to deliver robust growth, while innovating to create new customer propositions which can open up the market further. Instamart witnessed a massive leap in AOV led by assortment expansion and Maxxsaver adoption. Focus has been on agile and calibrated network expansion; and improving wallet-share by increasing basket-size which is one of the prime determinants of long-term profitability,” said Sriharsha Majety, MD & Group CEO, Swiggy, in a statement.

Consolidated Adjusted EBITDA loss widened to ₹813 crore, with margins contracting to 2.4% of GOV, primarily due to seasonal investments in delivery partner availability and the impact of annual appraisals. Instamart’s Gross Order Value (GOV) grew 108% YoY and 21% QoQ, driven by a 16% rise in average order value (AOV). Contribution margins improved by approximately 100 basis points QoQ to -4.6%, while Adjusted EBITDA margin for Instamart also improved to -15.8%.

“We have moved past the March quarter peak of losses in Quick-commerce, but amidst significant competition we will modulate investments to ensure that we drive the business towards scale-led profitability,” Majety added.

Swiggy shares closed at ₹403.75, up 0.66% from the previous close of ₹401.10 on the NSE on Thursday.