Swiggy Shares Slump 15% As Instamart Losses Overshadow Food Delivery Profits

26 Oct 2026, 6:00 am · 3h ago · 1 min read · Inc42

Swiggy’s shares plummeted 15% to ₹179.90 on the BSE on October 23, erasing nearly ₹9,000 crore in market capitalisation following its Q2 financial results. While consolidated revenue from operations grew 36.1% year-on-year to ₹7,571 crore, net loss widened sequentially to ₹922 crore from ₹791 crore in the previous quarter. The company faced investor pressure as Instamart’s adjusted EBITDA loss expanded to ₹895 crore despite a 13.4% sequential rise in net order value. In contrast, Swiggy's core food delivery arm achieved record adjusted EBITDA, driven by rising advertising revenue and streamlined delivery efficiencies across key markets.