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The Economic Times

Veer Sharma

Swiggy shares plunge 6% even as losses narrow. Should investors buy, sell or accumulate?

Swiggy Instamart Nomura Nuvama

Shares of food delivery and quick commerce major Swiggy tanked as much as 6% to an intraday low of Rs 280 on the BSE on Friday after it reported a consolidated net loss of Rs 791 crore for the first quarter of FY27, marking a nearly 34% year-on-year (YoY) decline from the Rs 1,197 crore net loss reported in the year-ago period.

The company’s revenue from operations, meanwhile, increased more than 37% YoY to Rs 6,812 crore during the April–June quarter of FY27, from Rs 4,961 crore in the corresponding quarter of the previous financial year.

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