Swiggy shares muted ahead of Q2FY26 results, analysts see narrower sequential net loss

Swiggy share price

The shares of food delivery and quick commerce giant Swiggy were off the day's lows on October 30 ahead of the September quarter results, with analysts expecting a sequential narrowing of net loss over previous quarter.

Analyst Expectations

Analysts expect Swiggy to report on an average a net loss that is 12.7 percent lower than last quarter, according to news agency Reuters. Earlier in July, the company reported a net loss that widened almost 96 percent on-year to Rs 1,197 crore in the June quarter. Swiggy’s revenue from operations rose 54 percent YoY to Rs 4,961 crore in Q1FY26. It had reported a revenue of Rs 4,410 crore in the previous quarter.

Earlier in May, the company had said that the adjusted core loss for Instamart - the rapidly-expanding quick commerce business - had likely peaked. "From here on, we expect to progressively unwind losses," Swiggy had said in a letter to shareholders, adding that the pace will be determined by the expansion of average order value and "quantum of competitive intensity".

Motilal Oswal said in a note that the path to breakeven appears increasingly achievable with easing competitive intensity and a pause in dark store expansion.

JM Financial expects Swiggy to report a 23 percent sequential increase in gross order value for its Instamart business, led by a robust 8 percent increase in the average order value. The domestic brokerage is of the view that order volumes may have likely grown 15 percent QoQ on account of the increase in the monthly transacting user base.

Motilal, ICICI Securities and Anand Rathi expect Instamart's adjusted EBITDA margin loss to narrow between 12.7 percent and 13.8 percent, as against last quarter's negative margin of 15.8 percent.

Swiggy Share Price 

Swiggy shares have dropped more than 2.5 percent in the past five days and nearly 2 percent in the past one month. The stock has gained over 31 percent in the past six months.

The stock debuted at a premium of 7.69 percent over the IPO price at Rs 420 apiece in November last year, and is currently down more than 1.5 percent from its listing price, however, it is still up over 6 percent from its IPO price.

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Eternal Share Price

Ahead of Swiggy's results, the shares of its food delivery and quick commerce rival Eternal also dropped around a percent but has gained nearly 41 percent in the last six months.