Swiggy Q4: Food Delivery Beats ‘LPG Crisis’ Fears But Instamart Cools Off

Swiggy’s food delivery business remained steady through the quarter, with adjusted revenue rising 23% year-on-year to ₹2,304 Cr in Q4 FY26

The consumer services giant narrowed its loss for overall business by 26% to ₹800 Cr in Q4 FY26 from ₹1,081 Cr in the same quarter last year

Swiggy expects food delivery to expand at around 20% annually, indicating a shift from the earlier phase of rapid expansion to a more predictable trajectory

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“The industry did take a hit, but we were able to hold on to growth,” Swiggy Food CEO Rohit Kapoor told Inc42 just hours after the company announced its Q4 earnings.

When the war in West Asia broke out and triggered the LPG crisis in India, the major anticipation was that food delivery would take a hit. Urban food delivery hubs such as Bengaluru, Pune, and Chennai, where restaurants are heavily dependent on commercial LPG cylinders, saw closures, and there were concerns that food delivery recovery would be hampered.

But defying market scepticism, like Kapoor said, Swiggy’s food delivery business remained steady through the quarter, with adjusted revenue rising 23% year-on-year to........

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