Swiggy Q2 Results Today: Food Delivery GOV May Rise 19%, Instamart Loss Seen At ₹840 Crore
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Swiggy will announce its Q2 FY27 results on October 22. Food delivery GOV is expected to grow 19% YoY and Instamart NOV by 37%, while the quick-commerce business’s adjusted EBITDA loss is estimated at ₹840 crore.
Swiggy Q2 results today will be in focus as the food delivery company is set to announce its earnings for the September quarter on Thursday, October 22. Food delivery growth, margins and losses at its quick-commerce business Instamart will be among the key numbers to track.
Kotak Neo expects Swiggy’s food delivery gross order value (GOV) to grow 19% year-on-year during the quarter, while Instamart’s net order value (NOV) is estimated to rise 37%.
Food delivery margins are also expected to improve, with adjusted EBITDA margin seen rising 40 basis points sequentially to 3.5% of gross merchandise value (GMV).
Instamart, however, is expected to report higher losses. The quick-commerce business’s adjusted EBITDA loss is estimated at ₹840 crore in Q2, compared with ₹780 crore in the June quarter, amid weaker contribution margins and higher fixed costs.
Swiggy’s board is scheduled to meet on Thursday to consider and approve its standalone and consolidated financial results for the quarter and six months ended September 30, 2026.
Swiggy Q2 Results Preview
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Swiggy’s food delivery GOV is expected to rise 19% year-on-year during Q2.
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Instamart NOV could grow 37% year-on-year.
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Food delivery adjusted EBITDA margin is seen improving 40 basis points sequentially to 3.5% of GMV.
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Instamart’s adjusted EBITDA loss is estimated to widen to ₹840 crore from ₹780 crore in the June quarter.
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Store expansion, order growth, quick-commerce spending and the path to profitability will be key numbers and themes to watch.
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Food delivery GOV had grown 17.4% year-on-year in Q1 FY27, making the September-quarter growth rate important for assessing whether momentum accelerated.
Swiggy Q2 Results What To Watch
Apart from revenue and net loss, Swiggy’s Q2 results will be tracked for food delivery GOV, margins, Instamart NOV and adjusted EBITDA loss.
Management commentary on quick-commerce spending, store expansion and the path to profitability will also be watched.
Swiggy’s results come a day after Eternal announced its September-quarter earnings. The numbers will provide a fresh comparison of growth and profitability across the two listed food delivery and quick-commerce companies.
Also Read - Q2 Results Today: Swiggy, Adani Energy Solutions, HPCL, Havells Among 35 Companies To Announce Earnings
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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