Swiggy Instamart losses hit ₹895 crore in Q2

Instamart losses are expected to have peaked. The company will move toward an inventory-led model that it estimates can lift contribution margin by roughly 80 basis points once complete. Food delivery remained the steadier engine.

Higher dark-store and rider costs hit the P&L directly. Every extra order in a new city still carries heavy subsidy until density improves.

Instamart adjusted Ebitda loss reached ₹895 crore; peak is behind us, management said.

The print puts pressure on Swiggy’s funding runway and valuation while Blinkit’s positive Ebitda widens the gap. Zepto and new entrants face the same unit-economics test.

Watch the Q3 margin bridge and inventory transition progress in the next earnings call and festive order data.