Swiggy ad spends jump 48% YoY 

Food and quick commerce major Swiggy reported a sharp rise in advertising and sales promotion expenses in the third quarter of FY26, underscoring its continued push on customer acquisition and brand visibility amid accelerating growth momentum.

Advertising and sales promotion spends rose 6.6% quarter-on-quarter to Rs 1,108 crore in Q3 FY26 from Rs 1,039 crore in Q2 FY26. On a year-on-year basis, ad spends surged 47.5% compared to Rs 751 crore in the same quarter last year.

The higher marketing outlay came alongside a strong top-line performance. Swiggy’s revenue from operations grew 10.6% QoQ to Rs 6,148 crore in the December quarter, up from Rs 5,561 crore in Q2 FY26. On a YoY basis, revenue jumped 53.9% from Rs 3,993 crore in Q3 FY25.

Total income for the quarter stood at Rs 6,244 crore, compared to Rs 5,620 crore in the previous quarter and Rs 4,096 crore a year ago.

However, losses widened sequentially. Swiggy reported a consolidated loss of Rs 1,065 crore in Q3 FY26, compared with a loss of Rs 1,092 crore in Q2 FY26 and Rs 799 crore in Q3 FY25. Loss before tax came in at Rs 1,065 crore for the quarter, versus Rs 1,092 crore in the September quarter and Rs 799 crore a year earlier.

Total expenses increased 8.7% QoQ to Rs 7,298 crore in Q3 FY26, driven by higher delivery-related charges, advertising spends and employee costs. Delivery and related charges rose to Rs 1,533 crore in Q3 FY26 from Rs 1,426 crore in Q2 FY26, while employee benefit expenses stood at Rs 673 crore compared to Rs 690 crore in the preceding quarter.

For the nine months ended December 31, 2025, Swiggy’s advertising and sales promotion expenses climbed to Rs 3,183 crore, up sharply from Rs 1,734 crore in the corresponding period last year. Revenue from operations for the nine-month period rose to Rs 16,670 crore, compared with Rs 10,817 crore in the same period last year.

Commenting on the performance, Sriharsha Majety, MD and Group CEO, Swiggy, said the company continues to gain momentum despite concerns of a sector slowdown.

“Swiggy continues to accelerate user growth and gross order value in food delivery, defying broader scepticism around a sector slowdown while significantly improving our operating margins. In quick commerce, where we believe we are only a quarter of the way through the opportunity, we are deepening wallet penetration and expanding differentiated assortment across categories to strengthen engagement and order value,” Majety said.

He added that the company’s confidence is reinforced by the successful qualified institutional placement and stronger balance sheet.

“Our confidence in the roadmap is reinforced by the successful qualified institutional placement and the long-term capital it brings, which strengthens our balance sheet and supports sustained investment in growth and innovation. With robust cash reserves backing our strategic priorities, our long-term approach emphasizes disciplined fiscal prudence and a distinctive product offering to drive sustained momentum toward contribution margin breakeven,” he said.