Shares of Swiggy Ltd experienced a notable 2.5% increase, reaching Rs 434 per share, despite reporting a significant net loss of Rs 1,092 crore for the second quarter ending September 2025. This loss, while widening compared to the Rs 626 crore reported in the same period last year, marked a sequential narrowing attributed to strong performance in its quick commerce arm, Instamart. Global brokerage Jefferies highlighted the increase in average order value as a key positive factor in the quick commerce segment, although they stressed the need for improved profitability through a higher take-rate and better network utilization.

Brokerages have shared mixed sentiments on Swiggy’s performance. HSBC voiced concerns over the company's ongoing loss of market share to competitors like Blinkit, emphasizing that areas such as reducing marketing expenses and enhancing the take-rate could be pivotal for improvement. Meanwhile, DAM Capital noted that the narrower-than-expected losses in the quick commerce segment could lead to potential profitability in adjusted EBITDA by FY28, driven by maturing stores and Swiggy’s Maxxsaver strategy. Nomura also projected a positive outlook, issuing a price target of Rs 560 per share, bolstered by expectations of a significant fundraise of up to Rs 10,000 crore to strengthen the balance sheet.

Despite the challenges, Swiggy's revenue from operations surged to Rs 5,561 crore, up from Rs 3,601 crore a year prior, indicating robust growth in food delivery services. CLSA maintained an "Outperform" rating with a target price of Rs 493 per share, citing gains in Instamart's margins, although they noted a slowdown in order growth. As the company navigates through market competition and operational efficiencies, it faces a broader challenge of regaining lost market share while aiming for profitability and sustainable growth in the competitive landscape of food delivery and quick commerce. So far in 2025, Swiggy's stock has fallen by 22%, reflecting ongoing investor concerns amid these operational challenges.