India's Swiggy drops as Instamart reports wider Q/Q losses

Swiggy

30/01/2026 04:24

** Indian delivery platform Swiggy SWIG.NS sheds 6.2% to 307.05 rupees

** EBITDA losses at its quick-commerce unit Instamart - its biggest revenue generator - widen sequentially, even as contribution and EBITDA margins improve

** However, at the group-level, SWIG reports narrower sequential loss; reaffirms outlook for contribution margin break-even by Q1 FY27

** "There are a lot of unanswered questions especially on quick-commerce's profitability path," says Jefferies as raises its estimates for Instamart's losses going ahead

** Elara Capital says Q3 results were a "mixed bag" but says it expects aggressive focus on profitability for quick-commerce as management maintained it outlook for contribution margin break-even

** YTD, SWIG down 20.5%

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))