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New Delhi: Swiggy lifted its Q2 FY26 advertising and sales promotion spend to Rs 1,039 crore, nearly doubling from Rs 537 crore a year ago and broadly flat versus Rs 1,036 crore in Q1.
For the first half, AdEx rose to Rs 2,075 crore from Rs 982 crore in H1 FY25.
Consolidated revenue from operations grew 54% year-on-year to Rs 5,561 crore and 12% sequentially from Rs 4,961 crore.
The consolidated net loss narrowed quarter-on-quarter to Rs 1,092 crore from Rs 1,197 crore, though it was wider than the Rs 626 crore loss in Q2 last year.
Delivery and related charges climbed to Rs 1,426 crore from Rs 1,313 crore in Q1, while employee benefits were Rs 690 crore.
On funding, the Board will meet on November 7 to consider raising up to Rs 10,000 crore via permitted routes, including a qualified institutions placement, to enhance strategic flexibility amid a dynamic competitive environment.
In a shareholder letter, Group CEO Sriharsha Majety said food delivery continued to grow in line with guidance, with GOV up 18.8% year-on-year to Rs 8,542 crore and adjusted EBITDA margin improving to 2.8% of GOV.
Instamart’s GOV jumped 108% year-on-year (24% QoQ) to Rs 7,022 crore, with average order value at Rs 697 and contribution margin improving by ~200 bps QoQ to –2.6%; adjusted EBITDA loss reduced to Rs 849 crore.
Platform MTUs rose 34% year-on-year to 22.9 million. The letter added that advertising contributes more than the entire adjusted EBITDA margin in food delivery, and highlighted plans to maintain affordability while scaling new use-cases.
The company’s consolidated adjusted EBITDA loss improved by Rs 118 crore sequentially to Rs 695 crore, and Out-of-Home consumption posted 52% year-on-year GOV growth with early profitability.
Swiggy closed the quarter with cash and cash equivalents of Rs 4,605 crore; management also pointed to a signed agreement to divest its ~12% stake in Rapido, expected to add about Rs 2,400 crore to the treasury post completion.