Swiggy closed with a gain of over 3%
New Delhi New Delhi: Shares of food and grocery delivery platform Swiggy rallied over 3 per cent on Wednesday. The company reported narrowing of consolidated net loss to Rs 625.53 crore for the second quarter ended September 30. The surge was driven by continued growth in the food delivery business.
The stock closed 3.35 per cent higher at Rs 518.10 on the BSE. It gained 6.69 per cent to Rs 534.85 during the day. The stock closed 3 per cent higher at Rs 517.10 on the NSE. It gained 6.56 per cent to Rs 534.80 intra-day. In terms of trading volume, 9.42 lakh shares of the company were traded on the BSE and 191.13 lakh shares on the NSE during the day.
The company declared its quarterly results to the stock exchanges for the first time after going public last month, as against a net loss of Rs 657 crore in the same period a year ago. In a regulatory filing on Tuesday, Swiggy said at the consolidated group level, it expects to achieve “positive adjusted EBITDA” by the third quarter of FY26. Swiggy’s revenue from operations rose to Rs 3,601.45 crore in the September quarter from Rs 2,763.33 crore in the same period last year.
Meanwhile, total expenses during the quarter under review also rose to Rs 4,309.54 crore from Rs 3,506.63 crore in the same period last fiscal. The company also said its board has approved investment of up to Rs 1,600 crore in equity shares of its wholly-owned subsidiary Scootsey Logistics Pvt Ltd in one or more tranches through subscription to a rights issue.
