Swiggy Q2 ad spend rises to ₹1,298 crore, Instamart loss widens to ₹764 crore

Swiggy reported advertising and sales promotion expenses of ₹1,298 crore for the quarter ended September 30, 2026, up from ₹1,039 crore in the corresponding quarter last year. 

The outlay, however, was lower than the ₹1,160 crore reported in Q1 FY27. For the first half of the financial year, these expenses totalled ₹2,458 crore, compared with ₹2,075 crore a year earlier.

The increase in spending coincided with a rise in consolidated revenue from operations to ₹7,571 crore from ₹5,561 crore in Q2 FY26. Total income for the quarter stood at ₹7,783 crore, against ₹5,620 crore in the year-ago period.

Swiggy’s quick-commerce business, Instamart, reported revenue of ₹1,306 crore in Q2 FY27, up from ₹980 crore in the corresponding quarter last year. Despite the increase, the segment’s loss widened to ₹764 crore from ₹739 crore a year earlier and ₹651 crore in the preceding quarter.

For the first half of FY27, quick commerce reported a loss of ₹1,415 crore, compared with ₹1,536 crore in the same period last year.

The segment’s performance contrasts with that of food delivery, which reported a positive segment result of ₹349 crore in Q2 FY27, up from ₹251 crore in Q2 FY26.

Swiggy’s other businesses reported mixed results. Out-of-home consumption posted a segment result of ₹8 crore, compared with ₹6 crore a year earlier. Supply chain and distribution reported a loss of ₹7 crore, narrowing from ₹8 crore, while platform innovations recorded a loss of ₹162 crore, compared with ₹45 crore in the year-ago quarter.

The segment results are reported before adjustments for other income, share-based payment expenses, finance costs, depreciation and amortisation, exceptional items, and the share of loss of an associate.

Supply chain and distribution generated revenue of ₹3,690 crore in Q2 FY27, up from ₹2,560 crore in the corresponding quarter last year. Food delivery revenue rose to ₹2,338 crore from ₹1,923 crore, while quick-commerce revenue increased to ₹1,306 crore from ₹980 crore.

The figures show differing revenue contributions across Swiggy’s businesses, with supply chain and distribution accounting for the largest segment revenue among the three reported here. However, its segment result remained marginally negative.

Swiggy’s consolidated expenses increased to ₹8,703 crore in Q2 FY27 from ₹6,711 crore in the year-ago quarter.

The company reported a loss of ₹920 crore before its share of loss of an associate, exceptional items and tax. After accounting for a ₹2 crore share of loss of an associate, the loss before exceptional items and tax stood at ₹922 crore. The reported consolidated loss for the quarter was also ₹922 crore, with no tax expense recorded.

For the six months ended September 30, 2026, revenue from operations rose to ₹14,383 crore from ₹10,522 crore in the corresponding period last year. Total expenses increased to ₹16,516 crore from ₹12,955 crore, while the consolidated loss narrowed to ₹1,713 crore from ₹2,289 crore.