e-commerce
Swiggy Instamart’s GOV surges 103 per cent year on year to Rs 7,938 crore
BENGALURU: Swiggy posted a sharp acceleration in food delivery growth in the December 2025 quarter, even as its quick-commerce arm Instamart continued its blistering expansion, according to results announced by the Bengaluru-based on-demand platform.
Food delivery gross order value rose 20.5 per cent year on year to Rs 8,959 crore, supported by a 22 per cent increase in monthly transacting users to 18.1 million. The segment’s adjusted Ebitda margin improved to 3 per cent of GOV, its strongest performance in two years, reflecting tighter cost control and higher user engagement.
Quick commerce remained the fastest-growing engine. Instamart’s GOV surged 103 per cent year on year to Rs 7,938 crore, driven by a nearly 40 per cent rise in average order value to Rs 746 and continued network expansion. Swiggy added 34 dark stores during the quarter, taking the total to 1,136 facilities across 131 cities and 4.8 million square feet.
Contribution margins in quick commerce improved by around 9 basis points quarter on quarter to minus 2.5 per cent, aided by larger basket sizes, lower incentives and operating leverage. The segment, however, posted an adjusted Ebitda loss of Rs 908 crore for the quarter, though margins narrowed further to minus 11.4 per cent.
Swiggy’s out-of-home consumption business remained profitable, recording 49 per cent year-on-year GOV growth, with adjusted Ebitda margins improving to 0.7 per cent of GOV.
At the platform level, average monthly transacting users climbed 37 per cent year on year to 24.3 million, with more than 36 per cent of users engaging with multiple services.
Swiggy MD and group CEO Sriharsha Majety, said the company was defying broader concerns of a sector slowdown by accelerating growth while improving margins. He added that Swiggy was still in the early stages of the quick-commerce opportunity and remained focused on disciplined investment backed by strong capital reserves.
e-commerce
Flipkart rolls out 105 per cent bonus for 20,000 employees
Strong FY25 performance drives payouts even as layoffs and shifts unfold.
MUMBAI: In a year where belts were tightened and rewards loosened, Flipkart seems to be playing both offence and defence trimming roles on one hand while handing out a generous 105 per cent bonus on the other. The Walmart owned e commerce major has rolled out a 105 per cent bonus payout for 2025, covering nearly 20,000 employees, signalling a year of steady operational momentum even as the company navigates restructuring pressures. The payout, communicated internally by chief human resources officer Seema Nair, is tied to performance across key metrics including growth, operational efficiency, financial outcomes and people indicators, a combination that suggests the company is inching closer to its long stated goal of sustainable profitability.
Employees at SD level and below are set to receive their bonuses in March, while payouts for senior leadership, including vice presidents and senior vice presidents, will follow after the close of the performance cycle. The elevated 105 per cent multiplier stands out in a sector where cautious payouts have increasingly become the norm, pointing to what appears to be a relatively strong internal scorecard for FY25.
Yet, the announcement arrives with a noticeable contrast. Earlier this year, Flipkart reduced its workforce by around 300 roles as part of its annual performance review process. While officially framed as performance driven, the juxtaposition of layoffs alongside above target bonuses reflects a more nuanced balancing act, one that prioritises cost discipline while continuing to reward and retain high performing talent.
This dual approach is becoming increasingly common across the technology and e commerce landscape, where companies are navigating an uneven hiring environment while under pressure to deliver profitability. Rewarding top contributors, even amid selective workforce reductions, allows firms to maintain morale and retain critical talent without losing sight of financial prudence.
At the same time, Flipkart is also undergoing leadership shifts that hint at a broader strategic recalibration. Nishant Verman has been appointed senior vice president for corporate development and partnerships, while group chief financial officer Sriram Venkataraman is set to step down. Ravi Iyer will take on expanded responsibilities within the finance function, marking a reshuffle at the top as the company gears up for its next phase.
These changes come amid reports that Flipkart is planning to shift its holding structure back to India, a move widely interpreted as groundwork for a potential public listing. While timelines remain fluid, the combination of stronger financial discipline, leadership restructuring and employee incentivisation suggests a company preparing itself for greater scrutiny and scale.
For employees, the 105 per cent payout offers a welcome boost in what has otherwise been a period of adjustment. For Flipkart, it is a signal that even as it cuts where necessary, it is willing to spend where it counts. In the high stakes game of growth versus profitability, the company appears to be hedging its bets carefully, rewarding performance while reshaping itself for what could be its most defining chapter yet.
