Swiggy Loses ₹9,000 Crore in One Day Amid Instamart Losses
Swiggy's shares fell sharply on Friday, erasing about ₹9,000 crore in market value due to growing losses at Instamart, which overshadowed food delivery growth. After Q2 results, brokerages lowered price targets, highlighting worsening quick-commerce profitability. Instamart’s adjusted EBITDA loss increased to ₹895 crore from ₹778 crore, with its contribution margin dropping to -1.4% despite a 13.4% sequential rise in net order value.
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