Swiggy’s shares plunged close to 8% during intraday trading on Friday, sinking to INR 302.2 apiece during the early trading hours a day after announcing its Q3 financial performance. The shares ended today’s trading session down 4.98% at INR 311.1 on the BSE. With the dip, the company’s market capitalisation at the end of the day stood at INR 85,873.35 Cr ($9.34 Bn) In Q3 FY26, the consumer tech company reported a 33% jump in its net loss to INR 1,065 Cr in Q3 FY26 from INR 799 Cr in the year-ago quarter. Meanwhile, its operating revenue surged 54% YoY and 11% QoQ to INR 6,148 Cr in Q3 FY26. While some brokerage firms downgraded the rating to “Hold”, others initiated “Buy” along with caution and cut in the target price. Brokerage firm Jefferies maintained its “Buy” rating but cut its price target (PT) to INR 440. The firm expressed disappointment with the mounted loss recorded under the quick commerce segment. During the earnings call, Instamart CEO Amitesh Jha reiterated its focus on long-term structural growth by better SKUs and a sharper understanding of customer needs rather than pouring money into discounts. The discounting strategy has gained fervour with other… Read MoreInc42 Media
