Swiggy Share Price Today: Stock Zooms 7% After Q2 Earnings

Swiggy's shares rose 6.69 per cent to Rs 534.85 on the BSE and 6.56 per cent to Rs 534.80 on the NSE following a reduction in its consolidated net loss to Rs 625.53 crore for Q2 FY24. This marks an improvement from Rs 657 crore in the same quarter last year, driven by the steady growth of its food delivery business.

Swiggy Boost: Revenue Growth 

The company reported a significant rise in revenue, reaching Rs 3,601.45 crore in the September quarter, compared to Rs 2,763.33 crore in the same period last year. However, total expenses also increased to Rs 4,309.54 crore from Rs 3,506.63 crore year-over-year.

Swiggy Boost: Positive Ahead

In its first earnings announcement since going public, Swiggy stated that it expects to achieve positive adjusted EBITDA by Q3 FY26, reflecting its efforts to improve financial health.

Swiggy Boost: Approved Investment 

Swiggy's board approved an investment of up to Rs 1,600 crore in its wholly-owned subsidiary, Scootsy Logistics Pvt Ltd. This investment will support Scootsy's supply chain and distribution services through a rights issue.