Swiggy Instamart Experiences First Decline in Gross Order Value
Swiggy’s quick commerce gross sales decline in March quarter
The Economic TimesImage: The Economic Times
Swiggy Instamart's gross order value (GOV) fell by 0.7% in the March quarter, marking its first sequential drop. Despite this, the company reported a 68% year-on-year increase in GOV and a 50% rise in revenue to ₹1,057 crore. The overall revenue for Swiggy rose 45% to ₹6,383 crore.
- 01Swiggy Instamart's GOV declined by 0.7% in Q4 FY26.
- 02Year-on-year, GOV increased by 68%.
- 03Overall revenue for Swiggy rose by 45% to ₹6,383 crore.
- 04Swiggy's losses narrowed by 26% to ₹800 crore.
- 05The food delivery segment saw a 27% revenue increase.
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In the quarter ending March 31, Swiggy Instamart recorded a gross order value (GOV) of ₹7,881 crore, representing a 0.7% decline from the previous quarter, marking its first sequential drop. However, on a year-on-year basis, the GOV surged by 68%. The company’s revenue also increased by 50% to ₹1,057 crore. Despite the sequential decline, Swiggy's overall revenues rose 45% to ₹6,383 crore, and losses narrowed by 26% to ₹800 crore. The food delivery segment, which is Swiggy's core business, reported a 27% increase in revenue, with a GOV of over ₹9,000 crore, although growth was subdued compared to previous quarters. Swiggy emphasized the importance of sustainable unit economics over sheer volume growth, indicating a strategic shift in focus towards profitability in the quick commerce sector, especially as competitors like Blinkit also signal moderation in growth.
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The decline in GOV may affect Swiggy's future growth strategies, potentially impacting job stability and service availability in the quick commerce sector.
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