Jul 31, 12:25 PM

Swiggy Reports ₹1,197 Crore Q1 Loss on 60% Expense Rise, Re-evaluates Rapido Stake Amid Quick Commerce Competition

Swiggy, the Indian food delivery and quick commerce company, reported a widened consolidated loss of ₹1,197 crore for the first quarter of fiscal year 2026, up from ₹1,081 crore in the previous quarter. The company's consolidated income increased to ₹4,961 crore from ₹4,410 crore quarter-on-quarter, while its EBITDA loss expanded to ₹1,038 crore from ₹880 crore. The loss increase was attributed to a 60% rise in expenses, driven largely by heightened marketing costs amid intense competition in the quick commerce segment. Swiggy founder and group CEO Harsham Jalihal noted that competition remains fierce as standalone players like Zepto and BigBasket intensify their offerings, and e-commerce giants Flipkart and Amazon enter the 10-minute delivery market. Additionally, Swiggy announced it is actively re-evaluating its approximately 12% minority stake in urban mobility startup Rapido, which is planning to enter the food delivery sector, currently Swiggy's largest business segment.

#Swiggy #Indian #Harsham Jalihal #Zepto #BigBasket #Flipkart #Amazon #Rapido

Written with ChatGPT (GPT-4).

Swiggy Reports ₹1,197 Crore Q1 Loss on 60% Expense Rise, Re-evaluates Rapido Stake Amid Quick Commerce Competition

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