Swiggy’s Q2 Conundrum, PhonePe Nets $600 Mn & More

Swiggy On A Sticky Wicket 

Swiggy’s Q2 results painted a complex picture of growth and mounting losses. The core food delivery segment continued to be the profit machine, while quick commerce vertical Instamart, despite heavy growth, continued to haemorrhage cash. 

Here is a quick snapshot of Swiggy’s Q2 FY26 numbers:

• Net loss widened 74.4% YoY to INR 1,092 Cr
• Operating revenue soared 54% YoY to INR 5,561 Cr
• Adjusted EBITDA loss zoomed 104% YoY to INR 695 Cr
• Food delivery vertical clocked…