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Swiggy’s shares fell 7.4% to a new 52-week low of Rs 385.25 on the BSE on Thursday following Q3 earnings; Should you buy, sell or hold?
Swiggy Shares Fall
Swiggy Share Price: Swiggy’s shares fell 7.4% to a new 52-week low of Rs 385.25 on the BSE on Thursday, February 6, following the company’s report of a consolidated loss of Rs 799 crore for the December quarter. This marks a larger loss compared to Rs 574 crore during the same period last year.
Swiggy’s revenue from operations for Q3FY25 reached Rs 3,993 crore, reflecting a 31% increase from Rs 3,049 crore in the same quarter of the previous year.
The company’s losses also widened both year-on-year and sequentially, as it posted a consolidated loss of Rs 799 crore in Q3FY25, compared to a loss of Rs 574 crore in Q3FY24. Sequentially, the loss also grew from Rs 626 crore in Q2FY25, although the topline showed an 11% growth from Rs 3,601 crore in the July-September quarter of FY25.
The increase in losses was largely driven by a 32% year-on-year rise in expenses for Q3FY25, which totaled Rs 4,898 crore, up from Rs 3,700 crore in the same period last year. In Q2FY25, the company’s expenses were Rs 4,309 crore.
