Swiggy Settles Over 3% Higher

New Delhi: Shares of food and grocery delivery platform Swiggy on Wednesday ended over 3 per cent higher after the firm reported a narrowing of consolidated net loss at Rs 625.53 crore for the second quarter ended September 30 on the back of continued growth of food delivery business.

The stock ended at Rs 518.10, up 3.35 per cent on the BSE. During the day, it surged 6.69 per cent to Rs 534.85. At the NSE, the stock climbed 3 per cent to settle at Rs 517.10. Intra-day, it soared 6.56 per cent to Rs 534.80. In traded volume terms, 9.42 lakh shares of the firm were traded at the BSE and 191.13 lakh shares on the NSE during the day.

The company, which declared its quarterly results to stock exchanges for the first time since it went public last month, had posted a net loss of Rs 657 crore in the year-ago period. In a regulatory filing on Tuesday, Swiggy said at consolidated group level, it expects to achieve “positive adjusted EBITDA by the third quarter of FY26.” Swiggy’s revenue from operations increased to Rs 3,601.45 crore in the September quarter, from Rs 2,763.33 crore in the corresponding period last year.

Meanwhile, total expenses also grew to Rs 4,309.54 crore during the quarter under review, from Rs 3,506.63 crore in the corresponding period last fiscal. The company also said its board has approved an investment of up to Rs 1,600 crore in the equity shares of its wholly-owned subsidiary Scootsy Logistics Pvt Ltd, in one or more tranches, by way of subscription to the rights issue.