Swiggy share price today: Shares of food and grocery delivery major Swiggy plunged 8 per cent on Thursday. The stock plummeted after the company reported a widening of consolidated loss to Rs 799.08 crore for the third quarter ended December 2024. The counter opened at Rs 387.95 on the BSE and fell further to hit the 52-week low of Rs 387. This is lower than the listing price of Rs 412. The 52-week high of the counter is Rs 617.
According to BSE Analytics, the counter has given a negative return of 26.22 per cent on a YTD basis. In one month, the stock has fallen 24.88 per cent.
Swiggy Q3 Results
The company has announced its quarterly results and according to the information shared, the company incurred a net loss of Rs 574.38 crore in the year-ago period.
Total expenses surged to Rs 4,898.27 crore from Rs 3,700 crore in October-December FY24. Revenue from operations also increased to Rs 3,993.06 crore from Rs 3,048.69 crore, a regulatory filing said.
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.
The company’s Food Delivery business grew 19.2 per cent YoY to Rs 7,436 crore. Adjusted EBITDA grew 63.7 per cent QoQ to Rs 184 crore, delivering a 2.5 per cent margin, up from 0.3 per cent a year ago, the company stated.
Meanwhile, benchmark indices Sensex and Nifty gave up early gains and were trading lower on Thursday amid caution ahead of the RBI’s monetary policy decision and fresh foreign fund outflows.
The 30-share BSE benchmark Sensex climbed 280.38 points to 78,551.66 in early trade. The NSE Nifty went up 77.25 points to 23,773.55.