Swiggy Q2 Results: Food Delivery Aggregator To Report Its Quarter Earning Profit

Food delivery major Swiggy is expected to release its quarterly results for the first time after the launch of its IPO worth Rs 11,327 crore. In its exchange filing dated November 26, 2024, the business announced the impending board meeting to approve the Q2 results for fiscal year 2024-25.

Earlier in the regulatory filing, the company announced, "This is in furtherance to our letter dated November 26, 2024, intimating about the Board meeting scheduled on Tuesday, December 3, 2024, to, inter alia, consider and approve the unaudited financial results for the quarter and half year ended September 30, 2024.”

In a report, JM Financial said that the company is likely to deliver 6% QoQ growth in the food delivery segment, which is marginally better than the 5% delivered by Zomato......"Overall, we expect investors to focus on the company’s relative performance vs. Zomato and management commentary on profitability improvement in food delivery and quick commerce businesses,” JM Financial added.

Furthermore, at the consolidated level, JM Financial said, "Swiggy is projected to record significant loss reductions as profitability in its food delivery and quick commerce businesses improves.

"As a result, the meal delivery company is expected to run an advertisement. EBITDA loss decreased to Rs 2.7 billion from Rs 3.5 billion in Q1, while reported EBITDA loss could fall to Rs 4.6 billion from Rs 5.4 billion. Overall, PAT level losses are estimated to fall to Rs 4.8 billion from Rs 6 billion in Q1 FY25."