New Delhi, October 23, 2026 (Yes Punjab News)
Swiggy shares plunged more than 17 per cent on Friday, hitting a fresh 52-week low after the food delivery and quick-commerce company reported a consolidated net loss of Rs 922 crore for the September quarter of FY27.
The stock fell as much as 17.22 per cent to Rs 174.90 on the BSE by 12.40 p.m., marking both its intraday and 52-week lows. It was last trading at around Rs 181, down nearly 14 per cent from the previous close of Rs 211.30.
The sell-off followed concerns over the company’s widening losses, particularly in its Instamart quick-commerce business, as well as intensifying competition and higher operating costs.
Swiggy’s consolidated net loss narrowed 15.6 per cent year-on-year from Rs 1,092 crore in the corresponding quarter last year. However, it widened from Rs 791 crore in the June quarter.
Revenue from operations increased 36 per cent year-on-year to Rs 7,571 crore. Despite the revenue growth, the company’s adjusted EBITDA loss widened to Rs 760 crore from Rs 695 crore a year earlier, exceeding market estimates.
Instamart remained a major concern for investors. Its adjusted EBITDA loss increased to Rs 895 crore in Q2 FY27, compared with Rs 778 crore in the preceding quarter and Rs 849 crore a year earlier.
Instamart’s gross order value grew 31 per cent year-on-year to Rs 9,230 crore, while net order value growth accelerated to 13.4 per cent quarter-on-quarter. However, its contribution margin deteriorated to minus 1.4 per cent from minus 0.3 per cent in the June quarter, reflecting pressure from customer incentives and higher fixed costs.
Several global brokerages, including Goldman Sachs, HSBC, CLSA, Bernstein, JPMorgan and Citi, have lowered their price targets for the stock.
Jefferies highlighted continuing losses at Instamart, arguing that Swiggy’s current share price did not adequately reflect the value of its food delivery business and cash holdings.
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