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Swiggy shares fall after Q1FY27 results show a net loss shift
The company reported consolidated net loss of ₹791 crore in Q1FY27, while revenue from operations rose 37% year over year to ₹6,812 crore.
Swiggy shares dropped more than 5% in intraday trading on the BSE on July 31, a day after it released its June quarter results for Q1FY27. The stock opened at ₹292.25 versus a previous close of ₹295.80, hit an intraday low of ₹280, and by around 11:50 AM was down about 3.3% to ₹285.95, according to LiveMint Markets.
LiveMint Markets reports that Swiggy’s consolidated net loss narrowed to ₹791 crore in Q1FY27 from ₹1,197 crore in the year-ago period. On a sequential basis, the net loss rose from ₹800 crore in the March quarter, even as consolidated revenue from operations grew 37% year over year to ₹6,812 crore.
The food delivery business also showed strength, with GOV rising 17.4% year over year to ₹9,490 crore. LiveMint Markets adds that Instamart reached contribution breakeven in Q1FY27, with more than 45% of dark stores turning contribution-positive versus 30% in Q4FY26.
Brokerage views diverged after the results. LiveMint Markets reports that ICICI Securities kept a buy call with a target price of ₹520, citing guidance for adding nearly 75 stores in existing cities in Q2FY27, while JM Financial downgraded the stock to sell from reduce and said profitability improvement in Instamart needs more scale, pointing to contribution margin being barely break-even in Q1 and likely to remain negative over the next two quarters.