Swiggy Q4 FY25 Adjusted EBITDA Loss Increased to INR 840 Crore
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Swiggy Ltd. reported a surge in overall business activity for the fiscal year ended March 31, 2025, with gross order value (GOV) from its core platform rising nearly 40 per cent year-on-year to INR 12,888 crore. The company's performance was disclosed in a regulatory filing on Friday.
While the topline momentum remained robust across verticals, Swiggy's consolidated adjusted EBITDA loss widened to INR 732 crore, driven by significant growth investments in its quick-commerce business, Instamart. The food delivery segment, however, delivered a standout performance, with GOV increasing 17.6 per cent year-on-year to INR 7,347 crore and adjusted EBITDA margins improving to 2.9 per cent of GOV, up from just 0.5 per cent a year earlier.
"FY25 was a year of many firsts for Swiggy. We launched multiple new apps across Instamart, Snacc, and recently, Pyng—all aimed at opening up new user segments and markets," said Sriharsha Majety, managing director & Group CEO, Swiggy. "Our food delivery engine delivered best-ever results across innovation and execution, driving category-leading growth and rising profitability in lockstep."
Quick-commerce saw the sharpest growth but also the heaviest financial strain. Instamart clocked a 101 per cent year-on-year jump in GOV to INR 4,670 crore in Q4, with average order value rising 13.3 per cent to INR 527. The segment added 316 darkstores during the quarter, more than the combined number added over the previous eight quarters, expanding Swiggy's footprint to 124 cities. As a result, active darkstore area swelled by 62 per cent quarter-on-quarter to 4 million square feet.
This aggressive expansion came at a cost. Swiggy reported a higher adjusted EBITDA loss of INR 840 crore in Q4, with contribution margin slipping to -5.6 per cent from -4.6 per cent in the previous quarter due to the high proportion of new stores and first-time users.
Swiggy's Out of Home Consumption business turned profitable in Q4, achieving 42 per cent year-on-year growth in GOV and a positive adjusted EBITDA margin of 0.3 per cent. Meanwhile, platform-wide monthly transacting users (MTUs) rose 35 per cent year-on-year to 19.8 million, with 35 per cent of users engaging with more than one service.
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