Shares of food delivery and quick commerce company Swiggy tanked 13.8% to their 52-week low of Rs 182.20 on the BSE on Friday after its consolidated net loss narrowed to Rs 922 crore in the second quarter, compared with Rs 1,092 crore a year earlier. However, on a sequential basis, the loss increased to Rs 922 crore from Rs 792 crore in the preceding June quarter.
Revenue from operations in the reporting period rose 36% YoY to Rs 7,571 crore. Swiggy's consolidated adjusted EBITDA loss widened to Rs 760 crore from Rs 695 crore a year earlier. Swiggy Instamart, the company's quick commerce business, recorded GOV growth of 31% YoY to Rs 9,230 crore during the September quarter, compared with Rs 7,022 crore a year earlier.
