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Swiggy shares hits 52-week low as Q3 losses widen
Swiggy’s shares fell sharply on Feb. 6, hitting a 52-week low of 387 rupee (US$4.42) after the release of its Q3 FY25 financial results.
The stock fell 7.43% before recovering slightly to 402 rupee (US$4.59).
The company reported a consolidated net loss of 799 crore rupee (US$91.24 million), up 39.1% year-on-year (YoY).
Operating revenue increased 31% YoY to 3,993.1 crore rupee (US$455.97 million), with 25.3% YoY growth in average monthly transacting users, totaling 17.8 million.
Market analysts offered mixed opinions. UBS maintained a “buy” rating and a target price of 515 rupee (US$5.88), while Macquarie reiterated its “underperform” stance, setting a target price of 325 (US$3.71).
Swiggy’s quick commerce segment, Instamart, faces challenges from competitor Blinkit, with 705 dark stores compared to Blinkit’s 1,007 .
The stock price has now fallen below its IPO price of 390 rupee (US$ 4.45), and Swiggy’s market cap is 91,039 crore rupee (US$10.4 billion).
Recent Swiggy developments
| Timeline |
|---|
06-Feb-2025 📉 Swiggy Q3 losses rise, quick commerce drives growth
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31-Jan-2025 📝 Swiggy’s company secretary resigns
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22-Jan-2025 📉 Swiggy shares drop 11%, market cap falls to $11.4b
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| 10-Jan-2025 📈 Swiggy shares rise 6.1% after launch of two new apps |
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