Business · Updated 23 Oct, 11:52 am IST
Swiggy shares hit 52-week low after Q2 losses at Instamart
Why it matters for readers: Explains why a popular delivery company's stock fell and what part of the business caused concern.
- Swiggy shares dropped as much as 17.23% to a 52-week low of ₹174.90 on the BSE following Q2 results.1
- Consolidated net loss for Q2 FY27 was ₹922 crore, wider by 17% from the prior quarter.1
- Instamart's adjusted EBITDA loss increased to ₹895 crore, up from ₹849 crore a year earlier and ₹778 crore in Q1 FY27.1
- Several brokerages trimmed price targets after the results; Citi kept a Buy rating but cut its target to ₹330.1
- Operating revenue rose 36% year-on-year to ₹7,571 crore, while food delivery GOV grew about 18% YoY with margin improvements.1
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