# Swiggy's Instamart Losses Peak at ₹895 Cr in Q2

> Swiggy expects Instamart losses to peak after ₹895 crore Q2 loss amid quick-commerce growth push.
- Title: Swiggy's Instamart Losses Peak at ₹895 Cr in Q2 · mint
- Summary: Swiggy expects Instamart losses to peak after ₹895 crore Q2 loss amid quick-commerce growth push. Swiggy expects Instamart's adjusted Ebitda losses to…
- Keywords: swiggy, instamart, quick-commerce, q2 fy27, losses, revenue, net order value, contribution margin, dark stores, private label, news, india
- Source: mint — https://livemint.com/companies/company-results/swiggy-quick-commerce-test-instamart-losses-hit-895-crore-in-q2-food-delivery-11792674493845.html
- Author: Sowmya Ramasubramanian
- Published: 2026-10-22T13:29:54+00:00
- Read time: 1 min
- Topics: swiggy, instamart, quick-commerce, q2 fy27, losses, revenue, net order value, contribution margin, dark stores, private label, news, india
## Swiggy's Q2 Financials
Swiggy's consolidated net loss narrowed 15.6% year-on-year to ₹922 crore from ₹1,092 crore, while revenue from operations grew 36% to ₹7,571 crore from ₹5,561 crore.
## Instamart Q2 Losses
Instamart reported adjusted EBITDA losses of ₹895 crore in Q2 FY27, up from ₹849 crore a year earlier.
## Losses Expected to Improve
Swiggy expects Instamart's adjusted EBITDA losses to decline from ₹895 crore in Q2 FY27 with sequential margin improvement of 100 basis points in December quarter.
## Growth Metrics
Instamart's net order value rose 34.8% year on year to ₹6,594 crore, while orders increased 29.3% to around 130 million.
## User Base Expansion
Instamart's monthly transacting user base grew 23% to 14.8 million, with 69 new dark stores added across 133 cities.
## Private Label Strategy
Swiggy uses Noice private label, curated Nectr fruits and vegetables, and Switch brand partnerships to differentiate Instamart.
## Margin Improvement Plan
Swiggy expects contribution margin to improve by 80 basis points after Q3 through inventory-led operating model transition.
## Competitive Landscape
Blinkit, operated by Eternal, and Amazon, Flipkart expand quick-commerce offerings amid intense competition.
## Food Delivery Profitability
Food delivery gross order value rose 17.7% to ₹10,054 crore with adjusted EBITDA at record ₹341 crore.
## Market Reaction
Swiggy shares fell 5.01% to ₹211.30 after touching intraday low of ₹209.35, a record low for the stock.
## Future Outlook
Swiggy expects Instamart's losses to peak in Q2 FY27 with margin improvement by December quarter.
## Key takeaway

Swiggy expects Instamart's adjusted Ebitda losses to decline from ₹895 crore in Q2 FY27 with sequential margin improvement of 100 basis points in December quarter.