Shares of Swiggy fell as much as 10 percent in the early trade today, October 23, to hit the lower circuit of Rs 190.20, after food delivery and quick commerce company reported a narrower consolidated net loss for the September quarter of the financial year 2026-27, supported by strong revenue growth. However, brokerages have cut the stock’s target price, expressing concerns about the firm’s quick commerce execution, profitability and competitive position.
Swiggy shares opened at Rs 204.90 and went on to crash 10 percent to hit lower circuit level Rs 190.20, on the BSE.
Swiggy reported a consolidated net loss of Rs 922 crore for the July-September quarter of FY27, compared with a loss of Rs 1,092 crore during the July-September quarter of 2025-26.
Revenue from operations rose to Rs 7,571 crore in the second quarter of FY27, up from Rs 5,561 crore in the same period last financial year, according to an exchange filing.
Swiggy's total expenses also rose to Rs 8,703 crore, up from Rs 6,711 crore a year ago.