Swiggy shares tumble nearly 8 pc; hit 52-week low as Q3 loss widens

Shares of food and grocery delivery major Swiggy on Thursday dropped nearly 8 per cent after the firm reported widening of consolidated loss to Rs 799.08 crore for the third quarter ended December 31, 2024.

The stock declined 7.43 per cent to Rs 387 -- its 52-week low level -- on the BSE.

At the NSE, it tanked 7.84 per cent to hit the 52-week low of Rs 385.25.

The company had incurred a net loss of Rs 574.38 crore in the year-ago period.

Total expenses surged to Rs 4,898.27 crore in the period under review, from Rs 3,700 crore in October-December FY24. Revenue from operations increased to Rs 3,993.06 crore, from Rs 3,048.69 crore, a regulatory filing said on Wednesday.

Notably, Swiggy's overall Gross Order Value (GOV) grew 38 per cent year-on-year (YoY) to Rs 12,165 crore.

"We continued our focus on creating segmented offerings for the consumer during the festive quarter, which we believe will open up more consumption occasions," Sriharsha Majety, MD & Group CEO, Swiggy, said.

He further said the secular expansion in food delivery margins and cash-flow generation is balanced by growth investments being made in quick-commerce including dark stores expansion and marketing, amidst high competitive intensity in the near-term.