Swiggy Q4 & FY2026 Results · May 2026 · Profitability Inflection
The Momentum Is Real
Swiggy grew its gross order value by 41% while shrinking losses — the rarest combination in consumer tech.
Food Delivery is now the profit engine. GOV grew 22.6% YoY to INR 9,005 Cr in Q4FY26 — the highest YoY growth in 15 quarters — driven by sharper order and user-volume gains rather than average order value inflation.
Profitability kept pace. Adjusted EBITDA reached INR 297 Cr, with margin hitting a record 3.3% of GOV (+41 bps YoY, +26 bps QoQ). Food Delivery MTU grew 21% YoY to 18.3 Mn, supported by 275,400 average monthly transacting restaurant partners.
Bolt, One BLCK, 99-Store, and Eat Right (which carries above-platform AOVs) powered user growth. Snacc, the quick-food vertical, was proactively shut down after management concluded the steady-state category size did not justify the added operating complexity.
"We believe that affordability will be the biggest amongst these to drive strong growth in food delivery." — Sriharsha Majety, Group CEO
In-restaurant dining is a secular growth opportunity — the category remains significantly underpenetrated even in top-tier cities, with discretionary incomes still expanding.
— Sriharsha Majety, Co-founder, MD & Group CEO, Swiggy Ltd