Swiggy Q1 FY27 Results Analysis: EBITDA Margin Improves 969 bps, Revenue Surges 37%

Cofacto Research Updated July 31, 2026 2 min read

Neutral

Swiggy Ltd's Q1 FY27 numbers came in mixed, with revenue of Rs. 6,812.00 Cr (+37.31% YoY) and PAT growth of -33.90% YoY. Here's a quick read of what worked, what to watch, and what management said.

Quick Details

Results date	July 30, 2026
Quarter	Q1 FY 2026-2027
Revenue (Q1)	Rs. 6,812.00 Cr (+37.31% YoY)
PAT (Q1)	Rs. -791.00 Cr (-33.90% YoY)
EBITDA margin	-9.56% (+969 bps YoY)
EPS (Q1)	Rs. -2.96 (-41.30% YoY)
Market cap	Rs. 81,680.44 Cr
CMP	Rs. 295.91

Quarter Snapshot

Revenue surged 37% YoY to Rs.6,812 Cr with EBITDA margin improving 969 bps as operating leverage kicked in. Quick Commerce losses narrowed meaningfully while Food Delivery profits grew 48%. The company remains loss-making but is on a clear path toward profitability with strong cost discipline.

Key Investment Insights

Key Positives

Revenue grew 37.3% YoY to Rs.6,812 Cr, the strongest Q1 print in company history
EBITDA margin improved by 969 bps YoY to -9.56% from -19.25%
Consolidated loss narrowed 34% YoY from Rs.1,197 Cr to Rs.791 Cr
Food Delivery segment profit grew 48% YoY to Rs.299 Cr; Quick Commerce loss narrowed by Rs.146 Cr YoY to Rs.651 Cr
Standalone entity turned profitable at Rs.350 Cr from Rs.5 Cr in Q1FY26

Risk Factors

Quick Commerce segment remains deeply loss-making at EBIT level at Rs.(651) Cr loss
Platform Innovations segment loss widened to Rs.(131) Cr from Rs.(58) Cr QoQ due to investment in new initiatives
Finance costs rose 29.3% YoY to Rs.53 Cr reflecting higher borrowings for growth capex and working capital