Swiggy Shares Plunge 15% Following Weak Quarterly Financial Results

23 Oct 2026, 11:39 am · 4h ago · 1 min read · OfficeChai

Shares of food delivery and quick commerce platform Swiggy dropped by as much as 15% during intraday trading on Dalal Street following the release of its quarterly financial earnings. The sharp market correction has dragged the company's valuation down significantly, marking an overall market capitalisation decline of nearly 70% over a two-year period. Investor sentiment turned negative amid widening adjusted EBITDA losses driven by aggressive spending on dark store expansion and customer acquisition in its quick commerce arm Instamart. The selloff highlights growing investor caution around high cash burn rates in competitive rapid delivery retail segments.