Swiggy shares rise 6% after cutting Q2 loss

Shares of Indian food delivery platform Swiggy rose over 6% to 534.85 rupees (US$6.31) during intraday trading Wednesday.

This increase followed the company’s announcement of a 4.78% year-on-year reduction in its consolidated net loss.

Meanwhile, its operating revenue for the September quarter climbed 30%.

Recent Swiggy developments

Timeline
02-Dec-2024 🍔 Swiggy expands 10-minute delivery service to over 400 locations Swiggy’s Bolt service expands to 400 cities Collaboration with 40,000+ eateries launched
15-Nov-2024 📉 Swiggy shares fall almost 6% after IPO Swiggy shares drop nearly 6% in second trading day IPO fully subscribed with a 3.59 subscription rate
13-Nov-2024 📈 Swiggy shares surge on market debut after $1.4b IPO Swiggy shares rise 7.7% pre-IPO listing IPO oversubscribed over three times by investors
06-Nov-2024 🍔 Swiggy raises $606m from anchor investors before IPO launch Swiggy secures $606M from 75+ investors Preparing for $1.35B IPO, targeting $11.3B valuation
29-Oct-2024 📈 Swiggy gears up for $11.3b IPO in November Swiggy to price IPO at Rs 371-390 per share IPO valued at Rs 11,300 crore, starts on Nov 6
28-Oct-2024 🍽️ Swiggy cuts IPO valuation to $11.3b amid market challenges

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