Swiggy's Journey Towards Profitability

Swiggy, India's leading food delivery and quick commerce platform, has set its sights on achieving operational profitability by December 2025. This ambitious goal was revealed in the company's first earnings report following its public debut in November. The report showed a narrowing of net losses to Rs 625.5 crore on a consolidated basis in the September quarter, down from Rs 657 crore in the same period last year. Revenue from operations surged by 30% year-on-year to Rs 3,601.4 crore in Q2FY25.

In a letter to shareholders, Swiggy outlined its expectation to achieve positive adjusted EBITDA at the consolidated group level by Q3FY26. This comes as a significant milestone for the company, especially as its rival Zomato, with which it competes in both the food delivery and quick commerce markets, is already profitable. Swiggy's food delivery business, which saw a 15% year-on-year growth in gross order value (GOV) to Rs 7,191 crore, is a key driver of this profitability push. Additionally, its recently launched 10-minute food delivery service, Bolt, already accounts for 5% of total food delivery orders.

For its quick commerce business, Instamart, Swiggy plans to expand its footprint by launching in new cities and deepening its presence in existing markets. The company aims to more than double its active dark store area to 4 million sq.ft. by March 2025. Sriharsha Majety, MD & Group CEO at Swiggy, emphasized the strategic importance of these investments in driving user growth, frequency, and wallet share.