Swiggy shares drop 1.5% ahead of Q4 results; Eternal shares down 2%

Swiggy shares dropped over 1.5 percent to trade at Rs 310 apiece on May 9. This comes before the food delivery major released its results for the January-March quarter of financial year 2025. Its rival company Eternal (Zomato) also saw a strong fall in its share price, plunging nearly 1.8 percent to trade at Rs 226 apiece.

The fall in Swiggy's share price comes as investors anticipate Q4 results similar to its rival Eternal. The possibility of poor results may reflect a downturn in the sector, which in turn may have resulted in the drop in Eternal's share price as well. Notably, the two firms allegedly maintain a duopoly in the food delivery market.

Eternal (Zomato) Q4 FY25 results:

Eternal, which operates food delivery platform Zomato and quick commerce firm Blinkit, had reported a 78 percent YoY fall in net profit to Rs 39 crore for the Q4 FY25 on May 1. Its revenue from operations however rose 64 percent YoY to Rs 5,833 crore during the reported quarter.