Swiggy Share Price:  The stock price of food and grocery delivery platform Swiggy soared nearly 7 per cent during intraday trade on Wednesday, after it reported a decrease in a consolidated net loss to Rs 625.53 crore in the second quarter of FY 2024-25 that ended September 30. The stock opened at Rs 510 price on the NSE and went up to hit an intraday high of Rs 534.80 per share, a jump of over 6.5 per cent. On BSE, the shares opened at Rs 510 and soared to hit an intraday high of Rs 534.85.

However, in the afternoon trade, the stock lost most of its early trade due to profit booking. At around 1:07 pm, the Swiggy stock was trading at Rs 516.25, up 2.98 per cent on NSE. 

Swiggy Q2 Result

Swiggy announced its quarterly results on the stock exchange for the first time after going public last month and reported a net loss of Rs 657 crore in the same period last year.

In a regulatory filing on Tuesday, Swiggy said that at the consolidated group level, it expects to achieve positive adjusted EBITDA by the third quarter of FY2026.
Swiggy's revenue from operations increased to Rs 3,601.45 crore in the September quarter from Rs 2,763.33 crore in the same period last year.

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Meanwhile, total expenses in the quarter under review also increased to Rs 4,309.54 crore from Rs 3,506.63 crore in the same period last fiscal. The company said that its board has approved an investment of up to Rs 1,600 crore in equity shares of wholly-owned subsidiary Scooty Logistics Pvt Ltd in one or more tranches through subscription to a rights issue. Scooty is in the business of supply chain services and distribution.

Swiggy Shares Jumped Over 9% On Tuesday

Shares of food and grocery delivery company Swiggy Ltd rose more than 9 per cent to hit an intraday high of Rs 541.95 on the NSE during trading hours on Tuesday, a 52-week high after the company's quarterly results, which were announced on Tuesday. Investors were expecting positive results and therefore were keeping an eye on the stock.

Swiggy made its stock market debut on November 13. The company's shares were listed at Rs 420 with a 7 per cent premium, which was not a great start. The company's IPO was open from November 6 to November 8 and the price band for the initial share sale was fixed at Rs 371 to Rs 390 per share. The size of the company's IPO is Rs 11,327.43 crore, which includes both fresh issue and sale offers.

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