India's Swiggy rises as Q2 loss narrows on robust q-com growth

Swiggy

31/10/2025 04:11

** Swiggy SWIG.NS rises 2.3% to 427.7 rupees

** Food and grocery delivery platform's Q2 net loss remains high but narrows q/q on robust growth in quick-commerce arm Instamart

** Jefferies says smart rise in average order value key highlight in q-com segment

** Adds q-com profitability will require uptick in take-rate (money co keeps as revenue from each transaction), ramp-up in network utilisation

** HSBC says, "While we see reasons to cheer the results, the loss of market share each quarter to Eternal's ETEA.NS Blinkit is a concern"

** Adds areas for improvement could include lowering marketing costs, improving take-rate, which is lower than that of Blinkit, Zepto

** DAM Capital says narrower-than-expected q-com losses driven by maturing stores, co's Maxxsaver strategy

** Adds Instamart could turn adj. EBITDA profitable in FY28

** Swiggy rated "buy" on avg; median PT is 452.5 rupees, per data compiled by LSEG

** YTD, stock falls ~21%

 (Reporting by Ananta Agarwal in Bengaluru)

 ((Ananta.Agarwal@thomsonreuters.com))