# Swiggy Q2 loss narrows to ₹922 crore as revenue jumps 36% 2026-10-22T12:07:34+00:00 | Governance | Indian Opinion Desk Corroboration: 4 independent outlets Swiggy reported a consolidated net loss of ₹922 crore for the September quarter, narrowing 16% from ₹1,092 crore a year ago but missing analyst estimates of ₹792 crore, according to LSEG data cited by the Hindu Businessline. Revenue from operations rose 36% year-on-year to ₹7,571 crore, beating the forecast of ₹7,281 crore. ET reports revenue at ₹7,571 crore, while CNBCTV18 puts the figure at ₹5,561 crore, the discrepancy is unresolved across the sources. The food delivery business posted a record adjusted EBITDA of ₹341 crore, up 42%. Quick-commerce unit Instamart saw adjusted EBITDA loss widen to ₹895 crore from ₹849 crore, as the company added 69 dark stores, taking its network to 1,240 across 133 cities. Its contribution margin deteriorated to negative 1% of gross order value. Management expects Instamart losses to have peaked in Q2 and projects double-digit sequential growth in net order value for the December quarter. Swiggy also agreed to sell its Lynks Logistics business to Udaan's parent for ₹500 crore, taking a 3.2% stake in Udaan. ## Indian Opinion Analysis The sources agree on the headline figures: Swiggy's Q2 loss narrowed to ₹922 crore from ₹1,092 crore a year ago. The Hindubusinessline frames the result as a miss, leading with a 'bigger-than-expected' loss against analyst estimates of ₹792 crore, and foregrounds Instamart's widening losses. Business Standard's pre-results story instead focused on the stock hitting a record low and FPI selling, while CNBCTV18 and the ET both framed the quarter as a narrowing loss with strong revenue growth. Only the ET and Hindubusinessline report an adjusted EBITDA loss widening to ₹760 crore (ET) or ₹895 crore at Instamart (both). The coverage is uniformly factual, with outlets differing only in what they emphasise. The Hindubusinessline's analyst-benchmark framing stands alone, the others lead on operational growth but also note Instamart losses. The next concrete item named is management's expectation of double-digit sequential Instamart growth in the December quarter, with losses peaking in Q2. ## Coverage Coverage: 4 sources, 4 neutral - business-standard.com (neutral report) Pre-results, leads with stock low and FPI exit - cnbctv18.com (neutral report) Narrowing loss lead, emphasises revenue and growth - economictimes.indiatimes.com (neutral report) Loss narrows lead, details Instamart losses and targets - thehindubusinessline.com (neutral report) Leads with loss missing analyst estimates This brief was synthesised by AI from the 4 sources linked above, so one read covers every framing they carry. Tags: Instamart, Q2FY27, Sriharsha Majety, Swiggy, UDAAN Canonical: https://indianopinion.org/swiggy-q2-loss-narrows-to-rs922-crore-as-revenue-jumps-36/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/swiggy-q2-loss-narrows-to-rs922-crore-as-revenue-jumps-36/#story-in-brief How this brief was made: an AI model read the reports linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. Stance labels are editorial classifications of how each outlet framed this story, assigned by the same model, not ratings of the outlets. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/