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Swiggy doubled operating loss in H1 on quick commerce spends: Prosus
Food delivery service Swiggy's profitability took a hit in the first six months of the current fiscal year due to the high cost of funding its quick commerce plans, said Prosus, an early investor in the platform, while sharing its financials for the period.
Between April-September 2025, the Instamart parent saw its adjusted earnings before interest, taxation, depreciation, and amortisation (Ebitda) loss widen 109% “to $178 million from $85 million last year, driven by quick-commerce expansion,” Prosus noted.
As of September 2025, Naspers-owned Prosus held 25% stake in Swiggy.
Between January and June, Swiggy's customer base grew 35% year-on-year (YoY) to 21.6 million, and its overall gross order value (GOV) surged 43%, the VC firm stated.
The GOV of Swiggy's food delivery business grew 18% supported by steady user gains and strong demand across new formats like Bolt, further improving profitability.
Meanwhile, its quick commerce arm Instamart more than doubled its GOV, growing 105%, while its average order value (AOV) grew 26% in the April-June 2025 period. However, “continued investment in scale and competitiveness in quick commerce deepened adjusted Ebitda losses,” Prosus explained.
In an interview with ET mid-September, Swiggy group chief executive Sriharsha Majety had said that Instamart's financials have improved thanks to its own mettle rather than rivals slowing down spending.
During the last post-earnings call, Majety had asserted that Swiggy will not chase volume growth at the cost of poor AOV: “Chasing volume growth at the cost of poor average order values and weak contribution margins is a choice — but not one we want to make.”Swiggy's net loss for the September quarter widened 74.4% YoY to Rs 1,091 crore, while its operating revenue rose 54% to Rs 5,561 crore. The company is planning to raise Rs 10,000 crore via a qualified institutional placement (QIP) to bolster its balance sheet, ET had reported in October.
Source: EconomicTimes
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