LiveMint reported that Swiggy shares touched ₹174.90 intraday on Friday, the day after the company released September-quarter results with food-delivery growth and an Instamart loss.
The reported low was 17.2% below the stock’s previous close of ₹211.30. Swiggy opened at ₹204.90, and LiveMint said the shares had fallen 35% over the preceding month.
Swiggy’s food-delivery gross order value (GOV) rose 17.7% year over year to ₹10,054 crore for the quarter ended Sept. 30, while monthly transacting users increased 15.2% year over year to 19.8 million, LiveMint reported. The outlet put adjusted EBITDA at ₹341 crore, with a margin of 3.4%.
Swiggy reported an adjusted EBITDA loss of ₹895 crore for Instamart. It added 69 dark stores during the quarter, bringing the network to 1,240, according to the company’s reported figures. EconoTimes previously covered Instamart’s quarterly loss and store expansion.
LiveMint reported that Swiggy’s out-of-home consumption segment reached ₹1,508 crore, up 34.9% year over year. The business recorded its seventh consecutive profitable quarter, with a margin of 0.5% of GOV.
