Instamart losses widen despite margin gains, echoes rival’s competitive warnings

Swiggy’s quick commerce arm Instamart posted an adjusted Ebitda loss of Rs 791 crore in Q3FY26, up from Rs 528 crore a year earlier, even as contribution margin improved 208 basis points year-on-year to negative 2.5% of gross order value (GOV). The widening losses reflect continued investments in network expansion and competitive spending that have overshadowed gains from better unit economics.