Swiggy’s Q2 Report Card, eMudhra To Exit Certificate Biz & More
Swiggy's Q2 FY27 showed strong food delivery performance with operating profit jumping 39% year-over-year to ₹349 Cr, the business's highest-ever margins. However, overall net losses narrowed only 16% as Instamart's adjusted EBITDA losses widened to ₹895 Cr despite 33% revenue growth. The company plans to pivot Instamart to an inventory-led model by mid-Q3 FY27, expecting improved margins and shortened working capital cycles once fully transitioned.
Key points
- Food delivery hit highest-ever profits and margins in Q2
- Instamart quick commerce losses widened to ₹895 Cr
- Inventory-led pivot targeting two to three quarters for full rollout
- Company believes Instamart EBITDA losses peaked in Q2
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