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BusinessPhoto: Deccan Herald

Swiggy Narrows Net Loss to Rs 922 Crore in Q2

Swiggy reported a consolidated net loss of Rs 922 crore for the July-September quarter, reduced from Rs 1,092 crore in the same quarter last year. Revenue rose to Rs 7,571 crore from Rs 5,561 crore year-on-year. Expenses increased to Rs 8,703 crore. Food delivery gross order value grew 17.7% to Rs 10,054 crore. CEO Sriharsha Majety highlighted record profits in food delivery and growth in quick commerce.

Deccan Herald··New Delhi

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BusinessPhoto: ET Energy Renewable

Government Plans Policy to Boost Farmers' Income with Agrivoltaics

The Indian government is formulating a comprehensive policy to promote agrivoltaics nationwide. This approach integrates solar energy generation with traditional farming, enabling farmers to earn additional income while continuing agricultural activities. The policy aims to provide economic benefits to farmers by combining renewable energy production with agriculture.

ET Energy Renewable·

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BusinessPhoto: Business Standard

HPCL Q2 Profit Falls 9% to ₹3,483 Crore on Higher Costs and Taxes

Hindustan Petroleum Corporation Limited reported a 9% decline in its Q2 net profit to ₹3,483 crore due to higher tax expenses and a sharp rise in crude oil prices. The average Brent crude price rose nearly 40% year-on-year, squeezing fuel retail margins. HPCL's expenses increased 25.9% to ₹1.33 trillion, with tax expenses more than doubling to ₹3,285 crore. However, gross refining margins improved significantly compared to last year.

Business Standard·

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BusinessPhoto: HT World

US Treasury Yields Drop Amid Middle East Tensions and Jobless Claims Wait

US Treasury yields fell on Thursday as investors monitored rising Middle East tensions and awaited US jobless claims data. The 10-year yield dropped over 7 basis points to 5.0732%, the 2-year yield fell more than 5 basis points to 4.7654%, and the 30-year yield declined by 6 basis points to 5.3751%. These declines reflect broader market risk aversion and expectations around Federal Reserve rate decisions.

HT World·

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SportsPhoto: NDTV Cricket

India vs New Zealand T20I Powerplay to Stream Live on TikTok

The opening six overs of the India vs New Zealand T20I series will be streamed live on TikTok's official BLACKCAPS account. This initiative by New Zealand Cricket and broadcaster Sky aims to attract younger audiences by presenting the powerplay phase in a vertical format optimized for mobile viewing. The first match starts at Hagley Oval, Christchurch, on October 22 at 8 pm local time (12:30 pm IST).

NDTV Cricket··Christchurch

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BusinessPhoto: Mint Companies

Swiggy's Instamart Losses Hit ₹895 Crore in Q2 Amid Growth Push

Swiggy Ltd reported that its quick-commerce arm Instamart posted adjusted EBITDA losses of ₹895 crore in Q2 FY27, up from ₹849 crore a year earlier. The company expects these losses to have peaked and forecasts a 100 basis points margin improvement in Q3. Swiggy's consolidated net loss narrowed 15.6% to ₹922 crore, while revenue grew 36% to ₹7,571 crore. Instamart's net order value rose 34.8% year-on-year.

Mint Companies·

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