Swiggy share price dropped 7.4% during Thursday’s trading session following the announcement on Wednesday that the food and grocery delivery giant experienced an increase in its consolidated loss to ₹799.08 crore for the third quarter ending December 2024. In the same period last year, the company recorded a net loss of ₹574.38 crore. 

Swiggy share price today opened at ₹387.95 apiece on the BSE, the stock touched an intraday low of ₹387 and an intraday high of ₹410.75 apiece on the BSE.

Total expenses rose to ₹4,898.27 crore, up from ₹3,700 crore in the October-December FY24 period. Revenue from operations also grew to ₹3,993.06 crore, compared to ₹3,048.69 crore, according to a regulatory filing. Importantly, Swiggy’s overall Gross Order Value (GOV) saw a 38 percent year-on-year increase, reaching ₹12,165 crore. 

Sriharsha Majety, the MD & Group CEO of Swiggy, mentioned that they maintained their emphasis on developing targeted offerings for consumers during the festive quarter, which they believe will lead to increased consumption opportunities. He added that the consistent growth in food delivery margins and cash flow generation is being counterbalanced by the investments in quick-commerce, which includes expanding dark stores and marketing, especially given the intense competition in the near term.