Swiggy shares fell 16.75% on Oct. 23, according to Stock Analysis, after quarterly results showed Instamart's adjusted EBITDA loss widened year over year while food delivery posted positive adjusted EBITDA.
Swiggy reported an Instamart loss of ₹895 crore for the quarter ended Sept. 30, compared with ₹849 crore a year earlier. The company added 69 dark stores during the period. At quarter-end, the network comprised 1,240 stores across 133 cities, covering 5.2 million square feet.
Stock Analysis' NSE price history listed a close of ₹176 after an intraday low of ₹174.95. Hindustan Times separately reported that Swiggy shares had reached a record low.
Instamart's contribution margin was negative 1.0% of gross order value, deteriorating 82 basis points from the previous quarter but improving 157 basis points year over year. Its adjusted EBITDA margin was negative 9.7%, compared with negative 9.8% in Q1 FY27. Swiggy's food-delivery business recorded adjusted EBITDA of ₹341 crore, equal to 3.4% of gross order value.
Swiggy said it believes Instamart's adjusted EBITDA losses peaked in Q2 FY27. Results for the next quarter will provide the next check on that view. EconoTimes previously covered Instamart's quarterly loss and store expansion.
