Swiggy Shares Surge Amidst Promising Q2 Financial Results

Swiggy's shares rose over 3% following a decrease in net losses for Q2. The company's revenue increased significantly while total expenses also rose. Swiggy aims for positive EBITDA by FY26 Q3 and plans to invest in its subsidiary Scootsy Logistics through a rights issue.

Shares of Swiggy, a leading food and grocery delivery platform, climbed over 3% on Wednesday after the company announced a reduced consolidated net loss of Rs 625.53 crore for the second quarter ending September 30. This positive performance is attributed to the continuous growth of its food delivery business.

On the Bombay Stock Exchange, Swiggy's stock closed at Rs 518.10, representing a gain of 3.35%, after reaching an intra-day high of Rs 534.85. Similarly, the National Stock Exchange saw the stock conclude the day at Rs 517.10, up 3%, after touching Rs 534.80 during trading hours.

Having disclosed its quarterly results since becoming public last month, Swiggy reported a sharp decrease from a net loss of Rs 657 crore in the previous year's equivalent period. The company anticipates achieving positive adjusted EBITDA by the third quarter of FY26. Furthermore, Swiggy's revenue from operations surged to Rs 3,601.45 crore this quarter, and its board approved an investment of up to Rs 1,600 crore in Scootsy Logistics Pvt Ltd to bolster its supply chain services.

(With inputs from agencies.)